A JV into Saudi Arabia
Ceva Logistics has joined forces with Almajdouie Logistics to create a new venture in Saudi Arabia born out of Riyadh’s inaugural Global Logistics Forum. In the project, the logistics companies will work together to expand their presence in the kingdom, combining Ceva’s international network with Almajdouie’s local expertise.
Based in Dammann, the team of 2,000 employees will be led by Bassel El Dabbagh as CEO, managing a local fleet of over 2,000 assets. Both parties have been looking to embark on this project since its announcement in July before signing the agreement at the Global Logistics Forum in the capital city.
Ceva Logistics has collaborated with Almajdouie Logistics for many years, including in a separate joint venture addressing the finished vehicle logistics market, building on both companies’ long-standing experience in Saudi Arabia. (mk)