Addendum announcement from Saudi Industrial Services Co. related to THE APPROVAL FROM THE SAUDI PORTS AUTHORITY FOR BERTH EXPANSION PROGRAM OF RED SEA GATEWAY TERMINAL CO.

Further to the announcement published on Tadawul's website on 24-02-2016 related to THE APPROVAL FROM THE SAUDI PORTS AUTHORITY FOR BERTH EXPANSION PROGRAM OF RED SEA GATEWAY TERMINAL CO. Saudi Industrial Services Co.(SISCO) announces :That the Red Sea Gateway Terminal Limited Company subsidiary of Saudi Industrial Services Companies (SISCO) has ssigned today on 09/01/2016 corresponding to 29/11/1437 H with Al Rajhi Bank and Banque Saudi Fransi Islamic financing agreement with a value of SAR 260 million for 8 years, which will be employed to develop project expansion of Red Sea gateway terminal in Jeddah Islamic Port, the expansion is expected to be completed in the fourth quarter of 2017 year.

The project includes the extension and rehabilitation of the main berth and conversion of the feeder berth to a main one enabling berthing of three mega vessels simultaneously, with deepening of the approach channel and a larger turning basin to safely accommodate larger ships. The plan also includes ordering of mega Quay Cranes, Yard Cranes in addition to terminal trucks in compliance with highest international standards.



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