$476.7m upgrades for Saudia

SAUDI Arabian Airlines (Saudia) plans to pump in $476.7 million over the next five to seven years to boost its cargo ground handling facilities, said a report.

About $26.7 million will be injected into Saudia Cargo for urgent investment in its ground facilities over the next 12 months, while $450 million will be spent on its Riyadh, Jeddah and Damman hubs, reported the Gulf News citing a senior official.

“This is a complete investment in Riyadh, Jeddah and Damman including the proposed cargo village which is going to be based in the headquarters at the King Abdulaziz International Airport, Jeddah,” said Amer Abu Obeid, Saudia Cargo sales director, Mena & Turkey.

K&N expansion opens

DUBAI World Central (DWC), the world’s first purpose-built aerotropolis, has announced the opening of Phase II of Kuehen + Nagel’s  logistics centre at DWC’s Logistics City. The expansion was recently awarded a LEED (Leadership in Energy and Environmental Design) Gold rating by the US Green Building Council.

DP World seeks to triple loan

DUBAI-owned port operator DP World, taking advantage of investors’ renewed confidence in Dubai, is in talks with lenders to triple a $1 billion loan, extend the lifespan and cut the interest rate, reports Reuters.

The firm, part of state-owned Dubai World, aims to raise the loan to $3 billion. The original five-year revolving credit facility was signed in April 2012 and has already been renegotiated once, adding a year to the lifespan in June 2013.

DP World channel opens

DP World has welcomed the very first vessel to navigate the new channel on the Soai Rap River to its Saigon Premier Container Terminal (SPCT) in Ho Chi Minh City, Vietnam.

The new channel makes SPCT the deepest Ho Chi Minh City (HCMC) port, and brings considerable benefits to customers, including halving steaming time to two hours and saving on pilotage and fuel.

With a draft of 9.5 m, and a tidal rise of up to 3.4 m, the channel doubles the size of vessels that can access SPCT.