In accordance with Royal approval to import and install systems for inspection of containers, the Minister of Finance and National Economy, Dr Ibrahim Al-Assaf, with a representative of the American IG and G Company, signed a contract for import and installation of five such systems.
Three systems will be installed at the Islamic Port of Jiddah, and two systems will be installed at King Abdul Aziz Port of Dammam. The total value of the systems, including costs of installation, operation, maintenance, training technicians and supervisors, and importing spare parts, amounts to the sum of approximately SR292 million.
Under the agreement, the systems should be imported and installed within 18 months, effective from the date of signing the contract. In a press statement, Dr Al-Assaf said that the Saudi Customs Department has made big strides in modernization.
Dr Al-Assaf said that this development had no connection with the agreement to implement the Gulf Customs Union. Arrangements for importing and installing the systems were concluded previously. “This project will facilitate changes in customs procedures, and thus it will positively contribute to the success of the Gulf Customs Union,” he said.
Dr Al-Assaf pointed out that the process of subscription for the Saudi Telecommunications Company (STC) has been successfully carried out. He noted that there are no plans to float additional shares for companies and investment funds.
Source: SPA
