PIF subsidiary SGP and SANY seal deal to supply 80 electric trucks to Dammam Port

China’s SANY will deliver 80 electric trucks to King Abdulaziz Port. Mawani
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Updated 26 June 2024
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PIF subsidiary SGP and SANY seal deal to supply 80 electric trucks to Dammam Port

RIYADH: Green operations at the Kingdom’s ports are set to receive a boost with Saudi Global Ports signing a deal with Chinese firm SANY for 80 electric trucks, enhancing sustainability. 

The deal — hailed as the world’s largest single contract for the manufacture and supply of electric trucks — was signed by the Public Investment Fund subsidiary and SANY for King Abdulaziz Port in Dammam, according to a statement from the Saudi Ports Authority, also known as MAWANI.  

This is part of the commercial concession contracts signed by Mawani with Saudi Global Ports, totaling an investment of SR7 billion ($1.87 billion), the release added. 

This move is part of Saudi Arabia’s strategy to position itself as a major global logistics hub, connecting three continents, in line with its National Transport and Logistics Strategy.   

The facility, honored as “Port of The Year” for 2024 at the ShipTek awards, will boast the largest fleet of electric vehicles in the Middle East upon completion of the deal.  

Electric trucks play a major role in safeguarding the environment at ports by producing zero exhaust emissions, thereby reducing air pollution and greenhouse gas emissions.  

They also offer enhanced energy efficiency and cost savings in operations and maintenance. 

Omar Hariri, president of Mawani, highlighted in the statement that the contract signing contributes to the port’s development and modernization into a flexible and sustainable logistical center.  

He emphasized the depth of the strategic partnership between Mawani and SGP, aiming to establish a pioneering model for operational excellence and logistical efficiency.  

Hariri also stressed that this reflects the pivotal role of King Abdulaziz Port in supporting commercial movement, aligned with the objectives of the national strategy for transport and logistics services. 

In the long term, it aims to contribute to clean air and combat climate change, aligning with the objectives of the Saudi Green Initiative and Vision 2030’s sustainability goals. 

Earlier this year, the Chinese firm delivered 50 dump trucks to the Kingdom, where they joined over 1,700 units of SANY machines already deployed on site for the construction of NEOM, marking a significant contribution to the development. 

The agreement was signed during the Transport Logistics China exhibition in Shanghai, being held from June 25 to 27.  

The event will feature over 700 exhibitors showcasing their offerings across 50,000 sq. m. of exhibition space, allowing visitors to explore the latest developments and trends through the conference program. 


Closing Bell: Saudi main index rises to 10,894

Updated 13 January 2026
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Closing Bell: Saudi main index rises to 10,894

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trend for a third consecutive day this week, gaining 148.18 points, or 1.38 percent, to close at 10,893.63 on Tuesday. 

The total trading turnover of the benchmark index stood at SR6.05 billion ($1.61 billion), with 144 listed stocks advancing and 107 declining. 

The Kingdom’s parallel market Nomu also rose by 81.35 points to close at 23,668.29. 

The MSCI Tadawul Index edged up 1.71 percent to 1,460.89. 

The best-performing stock on the main market was Zahrat Al Waha for Trading Co., with its share price advancing 10 percent to SR2.75. 

Shares of CHUBB Arabia Cooperative Insurance Co. increased 8.27 percent to SR23.04, while Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw its stock climb 6.17 percent to SR50.60. 

Conversely, the share price of Naseej International Trading Co. declined 9.90 percent to SR31.48. 

On the announcements front, Arabian Drilling Co. said it secured three contract extensions for land rigs with energy giant Saudi Aramco, totaling SR1.4 billion and adding 25 active rig years to its backlog. 

In a Tadawul statement, the company said one rig is currently operational, the second will begin operations by the end of January, and the third — currently suspended — is expected to resume operations in 2026. 

Since November 2025, Arabian Drilling has secured seven contract extensions amounting to SR3.4 billion, representing 55 committed rig years. 

The three contracts have durations of 10 years, 10 years, and five years, respectively.

“Securing a total of SR1.4 billion in new contracts and expanding our backlog by 25 rig-years demonstrates both the trust our clients place in us and our ability to consistently deliver quality and reliability,” said Ghassan Mirdad, CEO of Arabian Drilling, in a statement. 

Shares of Arabian Drilling Co. rose 3.15 percent to SR104.70. 

Separately, Alkhorayef Water and Power Technologies Co. said it signed a 36-month contract valued at SR43.35 million with National Water Co. to operate and maintain water networks, pumping stations, wells, reservoirs, and related facilities in Tabuk. 

In October, Alkhorayef Water and Power Technologies Co. announced it had been awarded the contract by NWC. 

In a Tadawul statement, the company said the financial impact of the deal began in the fourth quarter of 2025. 

The share price of Alkhorayef Water and Power Technologies Co. declined 0.49 percent to SR120.70.