CEVA Logistics, which holds a majority stake in the joint venture, has been active in Saudi Arabia since the 1980s and has previously partnered with Almajdouie Logistics in the finished vehicle logistics market. The new partnership will combine the companies’ logistics and transport operations to meet the growing demand for integrated logistics solutions in the Kingdom.
Headquartered in Damman, CEVA Almajdouie Logistics will be led by CEO Bassel El Dabbagh and will employ approximately 2,000 people. The joint venture will operate a local fleet of over 2,000 assets, combining Almajdouie’s domestic infrastructure with CEVA’s global logistics network.
Mohammed Almajdouie, Chairman of CEVA Almajdouie Logistics, emphasised the company’s alignment with Saudi Arabia’s Vision 2030, noting that the venture represents a new chapter in strengthening the global reach of Saudi companies. He highlighted Almajdouie’s long-standing role in the country’s logistics development and expressed confidence in the joint venture’s potential to further contribute to Saudi Arabia’s economic transformation.
Mathieu Friedberg, CEO of CEVA Logistics, added that the collaboration comes at a time of significant growth in the Saudi market, where seamless logistics and global connectivity are essential. He highlighted the joint venture’s strong starting position as one of the top five logistics players in Saudi Arabia and described the partnership as a strategic move that will benefit both companies and their customers.
The joint venture aims to enhance logistics services within Saudi Arabia and expand the country’s connection to global markets.