Leading third-party logistics company, CEVA Logistics, and Al Majdouie Logistics, a leading end-to-end logistics solutions provider in the Middle East, signed the final agreement to create a joint venture in the Kingdom of Saudi Arabia (KSA). The signing took place during the inaugural Global Logistics Forum in Riyadh.
First announced in July 2024 and subsequently approved by the relevant Saudi authorities, the newly created joint venture—CEVA Almajdouie Logistics—will leverage the strengths of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia to support the Kingdom’s growing logistics sector and overall economy. CEVA Logistics controls a majority stake of the joint venture.
Mathieu Friedberg, CEO of CEVA Logistics, said: “With the Saudi market experiencing significant growth, seamless logistics and global connectivity are essential for the domestic economy. Both companies contributing to this joint venture have a shared vision for growth and a commitment to providing our customers with world-class logistics services. Our partner’s existing business and reputation in KSA will ensure the JV starts off as one of the top five logistics players in the Kingdom of Saudi Arabia. We see the deal as a strong, strategic move for both partners and great news for our customers.”
CEVA Logistics has been in KSA since the 1980’s. It has collaborated with Al Majdouie Logistics for many years, including in a separate joint venture addressing the finished vehicle logistics market.
This strategic partnership combines both companies’ transport and logistics operations in Saudi Arabia. Customers will benefit from Al Majdouie’s domestic infrastructure integrated with CEVA’s global network. Headquartered in Damman, the joint venture organization will be led by CEO Bassel El Dabbagh, with around 2,000 employees in KSA and a local fleet of more than 2,000 assets.
