SISCO’s Tusdeer signs fourth warehouse village contract

SISCO announces that the Saudi Trade and Export Development Company (Tusdeer), whose SAR 190 million capital is 76% owned by SISCO, signed a contract (on September 2, 2012) to build the fourth duty-free warehouse village, comprising 20 warehouses, 22000 m² each. The project’s total cost is around SAR 46 million, and is developed in response to rising demand from Tusdeer’s customers. The new project puts total storage area to 72,000 m², and shall be completed in 16 months. The project will have positive effect on SISCO’s revenue in 2014.

Tusdeer owns and runs the first bonded and re-export zone at Jeddah Islamic Port and Saudi Arabia’s ports. It rented all the 20 warehouses in advance, all compliant with international standards.