Ceva Logistics, one of the global leaders in third-party logistics, and Almajdouie Logistics, a prominent end-to-end logistics solutions provider in the Middle East, have finalized their joint venture agreement in the Kingdom of Saudi Arabia (KSA). The signing took place yesterday during the inaugural Global Logistics Forum in Riyadh.
Initially announced in July 2024 and approved by Saudi authorities, the new entity, CEVA Almajdouie Logistics, aims to leverage the strengths of both companies to meet the increasing demand for integrated logistics solutions in the region. CEVA Logistics will maintain a majority stake in the venture.
With a presence in Saudi Arabia since the 1980s, CEVA Logistics has a long-standing partnership with Almajdouie, including previous joint ventures in the finished vehicle logistics market. CEVA Almajdouie Logistics will integrate their operations, offering customers access to Almajdouie’s domestic infrastructure and CEVA’s global network. Headquartered in Dammam, the joint venture will be led by CEO Bassel El Dabbagh and will employ around 2,000 people in the Kingdom.
Mohammed Almajdouie, Chairman of CEVA Almajdouie Logistics, stated, “We are proud to align our growth with the nation’s Vision 2030 goals and strengthen the global reach of Saudi businesses.” Mathieu Friedberg, CEO of CEVA Logistics, highlighted the strategic importance of the partnership, emphasizing that the joint venture is poised to be one of the top five logistics players in Saudi Arabia.
