Saudi Arabia's Almajdouie Logistics (MLC) signed a 50:50 joint venture (JV) agreement with Europe-based logistics provider, GEFCO Group, the company said in a statement on Monday.

 

The JV plans to offer a full range of finished vehicle services to the Saudi Arabian market and will officially launch operations in the first half of 2019.

 

"The partnership complements GEFCO’s growing presence in the Gulf, a region in which we have been delivering supply chain excellence for a number of years,” Luc Nadal, CEO of GEFCO Group, commented.

 

“We are very excited about this JV, which is part of our development strategy to tap into new market opportunities,” Baheej Al Biqawi, CEO of Almajdouie Logistics, added. 

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