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Saudi Arabia Invests $750 Million on Dammam Port, Al-Hayat Says

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Aug. 28 (Bloomberg) -- Saudi Arabia is spending more than 2.8 billion riyals ($750 million) to expand the King Abdulaziz Port in Dammam, al-Hayat reported, citing the port’s general manager, Naeem Ibrahim al-Naeem.

The port allocated 2 billion riyals to expand its container terminal capacity and another 800 million riyals for various facilities, the London-based newspaper said. Container handling increased 10 percent in the first half of 2012 to 822,093 compared with 748,498 a year earlier, the newspaper said.

To contact the reporter on this story: Dina Almashabi in Riyadh at dalmashabi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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