Saudi-Backed Port Developer Weighs South Africa Harbor Deal

Saudi Arabian ports operator Red Sea Gateway Terminal, backed by the kingdom’s $925 billion sovereign wealth fund, is evaluating whether to bid to develop and run a fresh-produce terminal at Africa’s biggest maritime hub.

South Africa’s state-owned ports operator on Monday issued requests for proposals for a terminal operator to build and manage the development at the Maydon Wharf at the port of Durban. The concession would be for 25 years, Transnet SOC Ltd. said in a statement.