Riyadh, Saudi Arabia – 13th October 2024 – ewpartners (formerly eWTP Arabia Capital), the first international private equity firm to establish Saudi-Asia cross border investment platform, is partnering with King Salman International Airport Development Company (KSIADC) to explore plans for a Special Economic Zone within King Salman International Airport in Riyadh.

The initiative is aimed at enhancing growth and operational excellence in logistics within the Kingdom of Saudi Arabia, contributing to the Kingdom’s goal of developing into a global logistics hub linking three continents and improving trade connections between Saudi Arabia, China and the wider Asian continent.

Known as the ‘KSA-Sino Logistics Special Economic Zone’, the collaboration between ewpartners and KSIADC was announced this week at the Global Logistics Forum in Riyadh, which is under the patronage of The Custodian of The Two Holy Mosques, King Salman Bin Abdulaziz Al Saud, and hosted by the Ministry of Transport and Logistic Services of the Kingdom of Saudi Arabia.

The Special Economic Zone is supported by the Ministry of Transport and Logistics and is one of several recently announced initiatives designed to strengthen supply chains and streamline trade, e-commerce and investment in line with the Kingdom’s Vision 2030.

The project will cover a total area of 4 square kilometres and will be developed in four phases over a period of 12 years.

The project site will include:

• A Logistic/Light Industrial Park: Focused on manufacturing and logistics, supporting local supply chain development and enhancing Saudi Arabia's industrial capacity.

• An International Commercial Park: Focused on providing a hub for global businesses to establish their presence, facilitating international trade and attracting more foreign direct investment.

• Living Space and Supporting Facilities: To offer comprehensive services necessary for professionals' living and working needs, enhancing Saudi Arabia's appeal as an investment destination.

The project aims to create an integrated ecosystem that will encompass global enterprises, logistic facilities, supply chains, and high-end manufacturing, significantly bolstering Saudi Arabia’s regional and global distribution capabilities. International companies will establish manufacturing capabilities within the Zone and collaborate with Saudi enterprises to produce locally for distribution to markets around the world. In this way, the Zone will embody the ‘Made in Saudi’ Program, which supports Saudi businesses to increase their exports to priority markets.

The project is expected to attract over 3,000 wholesalers and retailers and around 200 light industrial manufacturers from China and Asia. From this hub, they will then be able to explore expansion to other markets in the region and further afield.

Fully aligned with Saudi Arabia’s Vision 2030, the project is scheduled to launch by the end of 2025 and is expected to attract substantial international investment, further promoting the diversification and sustainable development of the Saudi economy.

By leveraging its global network and deep industry expertise, ewpartners, an international investment firm recognised for its strategic alliances and cross-border investment initiatives, will facilitate collaboration among relevant governments, international investors, and Saudi and global enterprises, ensuring the project attracts leading players from targeted sectors. Drawing on the successful experiences of China’s extensive network of free trade zones, ewpartners will actively engage with top global companies to foster industrial and commercial growth in Saudi Arabia, thereby enhancing the Kingdom’s competitiveness in the global market and complementing its other economic initiatives.

During the opening remarks of the Forum, H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of the Ministry of Transport and Logistics Services said: "Saudi Arabia has long been at the crossroads of global trade, and today we are once again leading the charge with cutting-edge infrastructure, such as King Salman International Airport and an expanding rail network. These vital facilities are key to realizing Vision 2030, with over 1 trillion SAR set for investment by 2050, of which 200 billion SAR has already been deployed. Through strategic partnerships between the public and private sectors, we have made significant progress, positioning Saudi Arabia as a hub of innovation across industries and establishing the Kingdom as a global logistics powerhouse."

Marco Mejia, Acting CEO of KSIADC, said: “This partnership marks a significant step in delivering on our vision to establish King Salman International Airport as a leading international logistics hub serving regional and global logistics companies and supporting Saudi Arabia’s trade expansion. By joining forces with ewpartners, we are poised to enhance our logistics infrastructure, boost efficiency, and create new opportunities for economic growth in Saudi Arabia and the region.”

Jerry Li, Founder & Managing Partner of ewpartners, said: “Saudi Arabia’s vision to establish this major logistics hub has been a cornerstone of ewpartners' presence in the Kingdom. After nearly five years of dedication to this initiative, our expertise in technology-driven solutions and cross-border investment, coupled with the strategic location of King Salman International Airport—positioned as a gateway between Asia, Africa, and Europe—will unlock immense potential for cross-border trade. This paves the way for new growth and innovation in the Kingdom's logistics and e-commerce sectors.”

He added: “We know first-hand that there are thousands of top companies from China and the APAC region eager to build a base in the region to be closer to their global customer base. With the support of the Saudi authorities and through teaming up with the right partners, we are confident that this project will become a world-class platform for international firms and local enterprises alike, creating a lasting impact on Saudi Arabia.”

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Media contacts:

For further information, please contact:

KSIADC

Reema Albarrak

ralbarrak@ksia.com.sa

ewpartners

Vivian Chang

vivian@ewpartners.fund

About the Global Logistics Forum 2024
The Inaugural Global Logistics Forum 2024, hosted by Ministry of Transport and Logistic Services, under the esteemed patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, envisions a groundbreaking new global map of trade and supply chains. By ambitiously convening ecosystem partners, this forum aims to spur efficiency, resilience, sustainability, and profitability, ultimately boosting prosperity for all in an Increasingly globalized world. www.eyeofriyadh.com/events/details/global-logistics-forum-2024

About King Salman International Airport
King Salman International Airport will be one of the world’s largest airports, covering an area of approximately 57 km² and projected to welcome 100 million passengers in 2030. King Salman International Airport aims to be a global benchmark for all airports, providing a unique and seamless customer journey, best-in-class operations, innovation across design and operations, and unique shopping and entertainment experiences. With sustainability at its core, the airport will be designed to achieve LEED Platinum certification for new build development, the highest level of green design and building certification, and will incorporate a variety of sustainable features, including being powered by renewable energy. KSIA will be a testament to Saudi Arabia’s unwavering commitment to innovation and progress.

About ewpartners
ewpartners, formerly eWTP Arabia Capital, is an international investment firm specializing in cross-border investments between Asia and the MENA region. Backed by the Public Investment Fund (PIF), the firm has been active in Saudi Arabia since 2017 and was the first investment firm to launch a cross-border platform between the Kingdom and China. Headquartered in Riyadh, ewpartners focuses on building value across borders by establishing strategic partnership with exceptional companies.