Bolloré Logistics has signed a joint venture agreement with Bahri, a global transport and logistics provider in Riyadh, and will now operate under the name Bahri Bolloré Logistics in Saudi Arabia.
Headquartered in Riyadh, the joint-venture will offer end-to-end logistics solutions to support the needs of customers in the Kingdom of Saudi Arabia and the region as well as international companies doing business with the Kingdom.
The agreement marks another step of Bolloré Logistics’ expansion into the fast-growing logistics and supply chain management market within the Gulf Cooperation Council (GCC).
Philippe Lortal, Chief Executive Officer of Bolloré Logistics Middle East – South Asia, commented: “It is a great honour for us to partner with Bahri, a leading and well recognized transport and logistics player in Saudi Arabia. This collaboration will intensify Bolloré Logistics’ development in the Middle East, which is definitely a key region for our organization, mainly because of its strategic location at the crossroads of Asia, Africa and Europe. The joint-venture with Bahri also allows us to reinforce our market segments development, especially for Aerospace & Defence, Oil & Gas, Luxury Goods and Healthcare”.
Ali Al-Harbi, CEO of Bahri, added: “Bolloré Logistics’ global capabilities in logistics and supply chain management, coupled with our regional knowledge and depth of expertise in transportation and logistics services, will help unlock synergies and operational efficiencies powerful enough to propel the new venture toward becoming a logistics partner of choice for companies around the region”.
It is estimated that the logistics market in the GCC is worth SAR176.3bn (US$47bn), with Saudi Arabia, with a market size of SAR71.3bn (US$19bn), representing 43% of the combined regional market. One of the fastest growing countries in the logistics and warehousing industry globally, Saudi Arabia is positioned as the primary entry point for goods in the GCC market, and the Kingdom’s logistics industry has been growing at an average rate of around 6% per year.
Source: Bolloré Logistics
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