CEVA Logistics, a global leader in third-party logistics, has officially partnered with Almajdouie Logistics to establish a joint venture named CEVA Almajdouie Logistics in the Kingdom of Saudi Arabia (KSA). The agreement was finalised during the inaugural Global Logistics Forum held in Riyadh, following initial announcements made in July 2024 and subsequent approvals from relevant Saudi authorities.
This strategic joint venture is set to address the increasing demand for integrated logistics solutions in Saudi Arabia, aligning with the nation’s Vision 2030 objectives aimed at economic diversification and growth. CEVA Logistics holds a majority stake in the new venture, which will leverage the complementary strengths of both companies to enhance service offerings in the region.
CEVA Logistics has had a presence in Saudi Arabia since the 1980s and has collaborated with Almajdouie Logistics on various initiatives, including a previous joint venture focusing on finished vehicle logistics. The newly formed CEVA Almajdouie Logistics will combine both companies’ transport and logistics operations, enabling customers to benefit from Almajdouie’s extensive domestic infrastructure integrated with CEVA’s global network.
Headquartered in Dammam, the joint venture will employ around 2,000 staff members and maintain a local fleet of over 2,000 assets, positioning itself as a key player in the KSA logistics sector. Mohammed Almajdouie, chairman of CEVA Almajdouie Logistics, expressed optimism about the collaboration, highlighting its potential to strengthen the global reach of Saudi businesses and enhance integrated services for clients.
Mathieu Friedberg, CEO of CEVA Logistics, underscored the importance of seamless logistics and global connectivity for the domestic economy, asserting that the joint venture is a significant strategic move for both companies and will enhance customer experiences in the region.
