Saudi Arabia: Bahri, Bollore logistics begin joint venture
A new logistics joint venture between global leader, Bahri, and international firm, Bollore Logistics, that will cater to the logistics and supply chain management market in Saudi Arabia and the rest of the GCC was announced.
The collaborative effort will afford both firms opportunities to move up a rung on the ladder, and better serve their clients. Bahri and Bollore logistics complement each other and maximise the use of each others resources to improve the quality of their services. The joint-venture will leverage Bollorés global reach and logistics platform, along with Bahris local logistics expertise, wide customer base, strong maritime expertise, and its fleet of state-of-the-art multi-purpose vessels.
The joint-venture will leverage Bollorés global reach and logistics platform, along with Bahris local logistics expertise, wide customer base, strong maritime expertise, and its fleet of state-of-the-art multi-purpose vessels. Bahri will maintain a majority in the company, headquartered in Riyadh, with a 60% stake, while Bollore will own the other 40%. The joint-venture will operate under the name Bahri-Bollore Logistics.
Ali Al-Harbi, acting CEO of Bahri, said: We are proud to partner with a well-known and respected global player like Bolloré Logistics, which brings more than three decades of expertise in the logistics industry. Bollorés 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.
He added: For Bahri, the foray into the supply chain and logistics is a natural extension of our business, as it continues our journey from being a leader in transportation of goods port-to-port, to the delivery of goods gate-to-gate. We are proud that this initiative will contribute profoundly toward achieving an important objective of Saudi Arabias Vision 2030 namely, enabling a thriving economy by building and leveraging a unique global logistical hub,