CEVA Logistics and Almajdouie Logistics have formed a joint venture, CEVA Almajdouie Logistics, to capitalize on the growing logistics market in Saudi Arabia.
Target Information
CEVA Logistics, a prominent global third-party logistics provider, and Almajdouie Logistics, a leading logistics solutions provider in the Middle East, have finalized a joint venture agreement to establish CEVA Almajdouie Logistics in Saudi Arabia. This agreement, signed during the inaugural Global Logistics Forum in Riyadh, is the culmination of a partnership that dates back to the 1980s, solidifying both companies' commitment to expanding their operations in the region.
CEVA Logistics holds the majority stake in this newly formed joint venture, which aims to cater to the escalating demand for integrated logistics solutions in Saudi Arabia. CEVA Almajdouie Logistics will leverage the strengths of both partners—combining CEVA’s extensive global network with Almajdouie’s robust domestic infrastructure—ensuring an efficient service delivery model throughout the Kingdom.
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Industry Overview in Saudi Arabia
The logistics industry in Saudi Arabia is experiencing a transformative phase, driven by the Kingdom's commitment to diversifying its economy as part of the Vision 2030 initiative. As a result of increased investments in infrastructure, the sector is poised for rapi
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