SAL Saudi Logistics has announced the signing of a mutual agreement with Taiba Airports Operation Company Ltd for the lease of land at Prince Mohammed bin Abdulaziz International Airport in Al-Madinah al-Munawwarah.
SAL has leased land of 7,500 square meters (3,500 actual square meters and 4,000 square meters reserved) for a period of 16 years.
The agreement reduces rental costs by US$9 million throughout the contract period and it is expected that SAL will invest an estimated amount of US$3.2 million in the development of the new terminal which will increase the terminal capacity and efficiency.
Read More: Mawani and Saudi SAL Logistics to Set Up Logistics Park at Jeddah Islamic Port