Arab News, Tuesday, Mar 21, 2023 | Sha'ban 29, 1444
Aramco, DHL form new procurement and logistics hub JV
Saudi Arabia:
The Saudi Arabian Oil Co., also known as Saudi Aramco, announced a new
end-to-end procurement and logistics hub joint venture with logistics firm DHL
Supply Chain.
Expected to be operational in 2025, the JV aims to
initially focus on the Saudi market, with plans to expand across the Middle East
and North Africa region.
The new venture aims to provide top-notch
integrated procurement and logistics services to further enhance supply chain
efficiency as well as sustainability in the region, the company said in a press
release.
The JV, which the company said is the
first-of-its-kind hub, will provide reliable and sturdy end-to-end services to
customers within the industrial, energy, chemical, and petrochemical sectors.
“This partnership brings together two industry
leaders, each with long and storied histories,” said Aramco President and CEO
Amin Nasser.
By combining the exceptional energy, chemicals and
industrial supply chain ecosystem of Aramco with the shipping
and logistics expertise of DHL, he said they aim to enable the procurement
and logistics hub joint venture to serve as a one-stop hub for customers’ supply
chain needs.
“We anticipate that it will not only advance the
economic goals of our two companies but also accelerate growth across Saudi
Arabia and the MENA region,” the CEO emphasized.
DHL Supply Chain CEO Oscar de Bok added: “By
working in partnership with Aramco, we aim to provide regional and multinational
businesses from these sectors access to a robust
international logistics network, fostering positive economic growth while
promoting sustainable activities.”