"Gulftainer Co Ltd, the United Arab Emirates' second-largest port operator, said on Sunday it had acquired a 51 percent stake in Saudi Arabia's Gulf Stevedoring Contracting Company.
The acquisition allowed Gulftainer to assume full management of three Saudi terminals, located in Jeddah and Jubail, making it the largest port operator in the Middle East by number of terminals, it said in an e-mailed statement.
At the Jeddah Islamic Port, Gulftainer will operate the Northern Container Terminal (NCT) on the west coast of Saudi Arabia, Jubail Commercial Port (JCP) and Jubail Industrial Port (JIP) on the east coast."
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