Riyadh – Mubasher: The National Shipping Company of Saudi Arabia (Bahri) inaugurated the Yanbu Grain Handling Terminal on 22 December 2024, according to a bourse disclosure.
The terminal is operated by the National Grains Company, a joint venture (JV) between Bahri and SALIC.
Located at the Yanbu Commercial Port, the project’s commercial production was delayed due to the implementation of additional requirements aimed at improving the flow of operations.
Additional parts were added to the project infrastructure to enable any future potential expansions.
Meanwhile, the total cost of the project increased by 7% over the previously allocated amount, which was SAR 412.50 million.
In the first nine months (9M) of 2024, Bahri logged 39.83% higher net profits at SAR 1.69 billion, compared to SAR 1.21 billion in 9M-23.
