CEVA Logistics, a global leader in third-party logistics, has partnered with Almajdouie Logistics, a top logistics provider in the Middle East, to form a joint venture in Saudi Arabia. The agreement was finalized at the Global Logistics Forum in Riyadh.
The new venture, named CEVA Almajdouie Logistics, aims to address the increasing demand for integrated logistics solutions within the region. CEVA Logistics holds the majority stake, indicating a strong commitment to the venture’s success.
CEVA and Almajdouie have a history of collaboration, including a previous joint venture focused on vehicle logistics. The new venture, based in Dammam, will be led by CEO Bassel El Dabbagh and will employ about 2,000 staff with a fleet of over 2,000 vehicles.
Mohammed Almajdouie, Chairman of CEVA Almajdouie Logistics, emphasized the strategic importance of this partnership, stating it aligns with Saudi Arabia’s Vision 2030 and enhances the global reach of Saudi businesses. He highlighted the JV as a pivotal step in offering comprehensive global services.
Mathieu Friedberg, CEO of CEVA Logistics, noted the significant growth of the Saudi market and stressed the importance of efficient logistics and global connectivity for economic development. He expressed confidence that the joint venture will be among the top logistics players in Saudi Arabia, benefiting both companies and their customers.
