Communication Author:EqualOcean News Editor:Xinyu Zhang Oct 15, 2024 11:35 AM (GMT+8)

易达

EqualOcean has learned that on October 13, Saudi Arabia’s Minister of Transport and Logistics Services, Saleh Al-Jasser, announced the establishment of a Saudi-China Special Economic Zone within King Salman International Airport in Riyadh. The zone will cover an area of 4 square kilometers and aims to transform Saudi Arabia into a key logistics hub connecting Asia, Africa, and Europe. The project will be developed in partnership between Ewpartners(易达资本) and the King Salman International Airport Development Company, with expectations to attract over 3,000 wholesalers and retailers from China and across Asia, along with approximately 200 light industry manufacturers.

King Salman International Airport is a national infrastructure project announced by Saudi Crown Prince and Prime Minister Mohammed bin Salman in August last year. Spanning 57 square kilometers, the airport will feature six parallel runways. By 2050, it is projected to handle 185 million passengers annually and manage a cargo throughput exceeding 3.5 million tons per year, positioning it as a core hub in global logistics and tourism networks.

The Saudi-China Special Economic Zone, set to begin construction in 2025, will cover 4 square kilometers within the airport premises. It will feature three key functional areas:  The Logistics/Light Industrial Park aims to attract multinational companies, promote the establishment and improvement of local supply chains in Saudi Arabia, and enhance industrial capacity. The International Trade Park will provide one-stop services for resident businesses, simplify entry procedures, and facilitate trade operations. The Residential Area is designed to offer convenient living facilities and services for employees of resident companies and their families.

Marco Mejia, Acting CEO of the King Salman International Airport Development Company, stated that the creation of the Saudi-China Special Economic Zone is a crucial step toward realizing the airport's vision of becoming a global logistics hub. Through collaboration with Ewpartners, the project will significantly enhance the airport's logistics infrastructure and operational efficiency, driving further growth in Saudi Arabia’s economy and trade.  Jerry Li(李晋吉), Founder and Managing Partner of Ewpartners, expressed confidence that the economic zone will unlock Saudi Arabia's potential in cross-border trade and foster rapid growth in the regional logistics and e-commerce industries.

Picture Source: Ewpartners