CEVA and Almajdouie set sights on growing Saudi market
CEVA Logistics has announced a joint venture with Almajdouie Logistics, a leading Saudi Arabian logistics provider. The partnership aims to capitalize on the rapid growth of the Saudi Arabian market and strengthen both companies’ global reach.
The joint venture will combine CEVA’s global network with Almajdouie’s local expertise, enabling them to offer comprehensive end-to-end logistics solutions to a wider customer base. The partnership will focus on key sectors such as energy, petrochemicals, automotive, e-commerce, and retail.
With around 2,000 employees and a fleet of over 2,000 assets, the joint venture will be well-positioned to support Saudi Arabia’s Vision 2030 economic diversification plan. The Kingdom’s significant investments in its maritime, logistics, and port sectors, including the development of new logistics parks, present significant opportunities for the partnership.
The Saudi Ports Authority invested $4.5 billion in the Kingdom’s maritime, logistics and port sector in 2023, and signed agreements to create new logistics parks on both coasts of Saudi Arabia – in the East at King Abdulaziz Port in Dammam, and at Jeddah Islamic Port in the West.
Mohammed Almajdouie, CEO of Almajdouie Logistics, said, “By pooling our expertise and resources through this partnership, we aim to strengthen our competitive advantage and offer an integrated and comprehensive suite of logistics services enabling us to capitalize on the opportunities presented by the Kingdom’s vibrant and rapidly evolving business landscape. We can accomplish together what we cannot achieve separately.”
“Around the world, CEVA is extending our local knowledge for the benefit of our customers. We have worked successfully with Almajdouie Logistics over the past decade, and with the growing market in Saudi Arabia, this joint venture would strengthen our local presence. By combining our complementary capabilities, the JV’s customers would have access to bespoke global solutions implemented reliably by local experts,” Mathieu Friedberg, CEO of CEVA Logistics, added.
