The 2nd Saudi Maritime Forum 2010 started its sessions here today. Addressing the first session, the President of Saudi Ports Authority Dr. Khalid Bubshait said that the Kingdom of Saudi Arabia has earmarked SR 1.496 billion of its budget for the ports this year, an increase of 40 percent in comparison with the last year. He disclosed that the budget included projects to modernize the infrastructure of some ports and the establishment of berths at Ras Al-Zour port to maintain their distinguished positions among global ports. In a press statement, he said that the Authority has prepared studies on privatization of ports and transforming them into an independent commission, adding, "We will soon announce the news." He emphasized that 70 percent of port operations are privatized and are being carried out by the private sector.
