CEVA Logistics (CEVA) announced that it recently signed the final agreement to create a joint venture in the Kingdom of Saudi Arabia (KSA) with Almajdouie Logistics, an end-to-end logistics solutions provider in the Middle East.

The global third-party logistics provider said 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 and support the Kingdom's growing logistics sector and overall economy. 

CEVA controls a majority stake in the joint venture.

 [Source: CEVA Logistics]

With a presence in Saudi Arabia since the 1980s, CEVA Logistics has collaborated with Almajdouie Logistics for years, including in a separate joint venture addressing the finished vehicle logistics market.

Now, CEVA Almajdouie Logistics combines both companies' transport and logistics operations in Saudi Arabia.

CEVA said customers will benefit from Almajdouie's domestic infrastructure integrated with CEVA's global network. 

Headquartered in Damman, the joint venture organization will be led by CEO Bassel El Dabbagh. It has around 2,000 employees in KSA and a local fleet of more than 2,000 assets.     

"At Almajdouie Holding, our logistics arm has been growing in tandem with the local economy. We have been involved in the logistics sector since the early stages of the Kingdom's development, serving major industries and contributing to the country's rapid transformation," commented Mohammed Almajdouie, chairman of CEVA Almajdouie Logistics.

"We are confident that now is the right time to join forces with a global logistics leader and offer truly integrated global services to our customers. Our JV with CEVA Logistics marks the beginning of a new chapter that strengthens the global reach of Saudi businesses," he added. 

Mathieu Friedberg, CEO of CEVA Logistics, noted that 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," he said.

"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," Friedberg added.

Almajdouie Logistics , which has been in the industry for 55 years, owns, operates, and integrates its assets. These comprise an expansive fleet of vehicles and trailers and 1.2 million SQM of terminal and warehousing facilities. It has a workforce of over 2,000 employees. 

The company operates seven offices around Saudi Arabia.