RIYADH: Saudi Arabia’s ultra-luxury destination project, Amaala, appointed John Pagano as the new chief executive officer (CEO) as it enters the development stage.
Pagano will replace existing CEO Nicholas Naples, the company said in a statement.
The move is part of Amaala’s growth plans, Pagano said, noting that Naples will continue to contribute to the company’s development as an adviser.
Meanwhile, Pagano will also retain his position as the CEO of the Red Sea Development Co., the statement added.
In September 2018, the Public Investment Fund (PIF) launched Amaala, an ultra-luxury destination on the north-western coast of Saudi Arabia. Naples was appointed as the project’s CEO, according to data compiled by Argaam.
RIYADH: Jeddah Islamic Port (JIP) saw a 12 percent year-on-year increase in the number of transshipment containers processed in 2020, despite the global slowdown in trade due to the pandemic.
The port processed an extra 2.5 million standard containers last year, in line with the Kingdom’s ambition to become a global logistics center, the Saudi Press Agency reported.
More than 13 percent of the volume of international maritime trade passes through the port, which is considered a link between Asia, Europe and Africa.
JIP handles more than 70 percent of the goods exported and imported through Saudi ports and is ranked first among the Red Sea ports.
Saudi Arabia’s ports handle around 20 percent of the transshipment market in the region, but authorities are aiming to raise this to 50 percent by 2030.
The Saudi Ports Authority is raising the competitiveness of JIP operations by re-engineering transshipment procedures.
It canceled loading permits and restructured storage fees in order to stimulate shipping lines. It also increased the period of storage free time from 20 days to 30.