Saudi Arabian transportation firm Bahri and French freight forwarder and logistics company the Bolloré Group have formed a joint venture (JV) – BahriBolloré Logistics.
The JV will provide end-to-end logistics and supply chain management solutions to local and international companies operating in Saudi Arabia. Bahri owns a 60 per cent stake while Bolloré owns the remaining 40 per cent.
Headquartered in Riyadh, BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in Saudi Arabia.
Bahri chairman, Abdulrahman Mohammed Al-Mofadhi says: “The success of this joint venture signals the importance of collaboration in creating a wider positive impact on the sector. It is only through meaningful partnerships and a shared vision that the transportation and logistics sector can break new ground and explore new horizons of growth.”
Bahri acting chief executive officer, Ali Al-Harbi adds it will enable his company to play a significant role in driving an important objective of Saudi Arabia’s Vision 2030, to further raise the Kingdom’s ranking in the global logistics market.
Bolloré Transport & Logistics chairman, Cyrille Bollore explains: “This development at the heart of a high growth potential region is an important milestone of our global network integration.This alliance is following the development dynamic of Bollore Logistics in the Middle East region and at the crossroads of Asia, Africa and Europe.”
Bollore Logistics CEO, Thierry Enrenbogen says the JV will enable the company to promote its expertise in key sectors, especially in aerospace, defense, O&G and fashion and healthcare.
A ceremony to mark the start of the JV was held in Riyadh (pictured above).