CEVA Logistics and Almajdouie Logistics have signed the final agreement to create a joint venture to collaborate on meeting the growing demand for integrated logistics solutions in Saudi Arabia.
The signing took place during the inaugural Global Logistics Forum in Riyadh. CEVA Logistics controls a majority stake in the joint venture.
First announced in July 2024 and subsequently approved by the relevant Saudi authorities, the newly created joint venture—CEVA Almajdouie Logistics—aims to leverage the strengths of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia and support the Kingdom’s growing logistics sector and overall economy.
Headquartered in Damman, the joint venture organisation will be led by CEO Bassel El Dabbagh, with around 2,000 employees in Saudi Arabia and a local fleet of more than 2,000 assets.
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Mathieu Friedberg, CEO of CEVA Logistics, said: “With the Saudi market experiencing significant growth, seamless logistics and global connectivity are essential for the domestic economy.
“Both companies contributing to this joint venture have a shared vision for growth and a commitment to providing our customers with world-class logistics services.
“Our partner’s existing business and reputation in KSA will ensure the JV starts off as one of the top five logistics players in the Kingdom of Saudi Arabia. We see the deal as a strong, strategic move for both partners and great news for our customers.”
Earlier this year, the Port of Dunkirk and CEVA Logistics signed a contract for a plot of land on which CEVA would develop a new finished vehicle logistics operation for import and export by sea.
