Saudi Arabia is planning to build a massive port on its western coast on an area of 43 million sq m to lure investment and also ease pressure on the Red Sea port of Jeddah, said a report.

Authorities have already allotted land for the project and are awaiting tenders to be issued, reported the Saudi language daily Okaz.

The port, to be located on the coastal Red Sea town of Al Lith, will be able to receive giant cargo ships and other vessels. This move will ease pressure on Jeddah, which is already one of the world's busiest harbours, said the report.

The main benefits of this project is that it will ease pressure on Jeddah port and at the same time contribute to the development of that area, create jobs for Saudis, attract residents and lure in factories and other investments," the report added.