CEVA Logistics and Almajdouie Logistics join forces in Saudi Arabia, enhancing logistics solutions.
CEVA Logistics and Almajdouie Logistics have finalised a joint venture to enhance logistics operations in Saudi Arabia. The agreement was signed during the Global Logistics Forum in Riyadh, following approval from Saudi authorities. The newly formed entity, CEVA Almajdouie Logistics, aims to meet the rising demand for integrated logistics in the region, aligning with Saudi Arabia’s economic goals.
CEVA holds a majority stake in the venture, leveraging its global network alongside Almajdouie’s extensive local infrastructure. The partnership, headquartered in Dammam, will be led by CEO Bassel El Dabbagh and will employ around 2,000 staff with a fleet of over 2,000 assets.
Mohammed Almajdouie, chairman of the joint venture, emphasised its alignment with Saudi Arabia’s Vision 2030, positioning the collaboration as a pivotal step for the Kingdom’s logistics growth. CEVA’s CEO, Mathieu Friedberg, expressed confidence that the venture would position them among the top five logistics providers in Saudi Arabia.
