THE Red Sea Gateway Terminal (RSGT) has won the 2021 Regional Deal of the Year award at the annual Seatrade Maritime event in Dubai, for the Middle East, Indian Subcontinent & Africa region, reports Bahrain's Trade Arabia.

In July, RSGT announced the approvals and completions of 20 per cent equity share sales to the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, and Hong Kong-based Cosco Shipping Ports Limited (CSPL).

With the deal, RSGT's founding shareholders reduced their combined majority and controlling shareholding to 60 per cent.

RSGT currently handles three million TEU annually, with annual container throughput capacity at RSGT expected to grow to 5.2 million TEU by the end of 2023, with plans underway to expand to nine million TEU by 2030.

The facility can accommodate next-generation container ships of up to 23,000 TEU-class capacity.