The transaction marks one of the largest foreign direct investments in Saudi Arabia's maritime sector to date. The investment will support the development of a new state-of-the-art container terminal and ancillary infrastructure project as part of RSGT's existing concession, adding up to 2.6 million TEUs of annual handling capacity. The new terminal will strengthen Jeddah Islamic Port's ability to efficiently serve larger vessels and major international shipping services, supporting greater trade volumes, stronger global connectivity and more efficient access to international markets for Saudi imports and exports. 

More information on the agreement can be found here.

King & Spalding acted as legal advisor to RSGT. Reed Smith also represented RSGT on various concession issues. The K&S team was led by Brendan Hundt, Nabil Issa, Martin Hunt, and Chris Travis.