CEVA Logistics and Almajdouie Logistics have formally established a joint venture in Saudi Arabia, announced at the Global Logistics Forum in Riyadh. This collaboration aims to enhance logistics solutions within the Kingdom.
Initially revealed in July 2024 and approved by Saudi authorities, the CEVA Almajdouie Logistics joint venture merges the strengths of both companies to cater to the rising demand in Saudi Arabia’s logistics sector. CEVA holds the majority stake.
CEVA has operated in Saudi Arabia since the 1980s and has partnered with Almajdouie in the past, notably in vehicle logistics. The new joint venture combines their transport operations, offering customers a blend of Almajdouie’s domestic resources and CEVA’s international network. Based in Damman, the venture will be led by CEO Bassel El Dabbagh, supported by 2,000 employees and over 2,000 fleet assets.
Mohammed Almajdouie, chairman of the new venture, emphasized the alignment with Saudi Arabia’s Vision 2030, stating that the partnership marks a significant step in enhancing global services and supporting national growth.
CEVA Logistics CEO Mathieu Friedberg highlighted the importance of seamless logistics in the rapidly growing Saudi market, noting the joint venture’s strategic significance and its position as one of the top logistics players in the region.
About CEVA Logistics: A leader in global supply chain solutions, CEVA Logistics operates in 170 countries with 110,000 employees, offering a wide range of logistics services. Part of the CMA CGM Group, its 2023 revenue was US$20.2 billion.
About Almajdouie Logistics: With over 55 years in the industry, Almajdouie provides integrated supply chain solutions across the Middle East. The company manages a large fleet and extensive warehousing facilities, employing over 2,000 staff in Saudi Arabia.
About the Global Logistics Forum: The GLF is a platform for innovation in logistics, bringing together industry leaders to drive growth and enhance global connectivity. The forum aims to reshape international trade and supply chains through collaboration and innovation.
