Fri, 02 Jun 2023

RIYADH, March 20 (Xinhua) -- Saudi Arabian Oil Company (Saudi Aramco) and international logistics provider DHL announced on Monday the signing of a shareholders' agreement for establishing a new procurement and logistics hub in Saudi Arabia.

The center will be the region's first such hub catering to customers in the industrial, energy, chemical and petrochemical sectors, aiming to enhance supply chain efficiency and sustainability, the Saudi Press Agency reported.

The joint venture is scheduled to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services.

It would initially focus on Saudi Arabia, with aspirations to expand across the Middle East and North Africa (MENA) region.

Amin H. Nasser, Aramco president and CEO, said that this partnership brings together two industry leaders, combining the exceptional energy, chemicals and industrial supply chain ecosystem of Aramco with the world-class shipping and logistics expertise of DHL.

Oscar de Bok, DHL Supply Chain CEO, said that DHL intends to foster its business operations and logistics networks throughout Saudi Arabia and the MENA region while expanding its industrial footprint.

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