October 13, 2019 / 8:00 AM / a month ago

Saudi Arabia to launch new logistics zone in Jeddah, open to private investors - statement

RIYADH, Oct 13 (Reuters) - Saudi Arabia plans to launch a new logistics zone open to private investors, in the Red Sea port city of Jeddah, according to a transport ministry statement on Sunday.

The new zone will be located in al-Khomra, the statement said. It aims to boost the logistics sector to help diversify the kingdom’s economy away from oil.

Jeddah is home to one of the kingdom’s largest ports. (Reporting by Marwa Rashad; writing by Maher Chmaytelli; Editing by Elaine Hardcastle)

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