CEVA Logistics, a global leader in third-party logistics, and Almajdouie Logistics, a leading end-to-end logistics solutions provider in the Middle East, have 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 established joint venture—CEVA Almajdouie Logistics—will leverage the strengths of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia, supporting the Kingdom’s expanding logistics sector and overall economy. CEVA Logistics holds a majority stake in the joint venture.
With a presence in Saudi Arabia since the 1980s, CEVA Logistics has collaborated with Almajdouie Logistics for many years, including in a separate joint venture addressing the finished vehicle logistics market.
Now, CEVA Almajdouie Logistics will combine both companies’ transport and logistics operations in Saudi Arabia. Customers will benefit from Almajdouie’s domestic infrastructure, integrated with CEVA’s global network. Headquartered in Dammam, the joint venture will be led by CEO Bassel El Dabbagh and will have approximately 2,000 employees in the KSA, along with a local fleet of over 2,000 assets.
Mohammed Almajdouie, Chairman of CEVA Almajdouie Logistics, said: “At Almajdouie Holding, our logistics arm has grown 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. 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 joint venture with CEVA Logistics marks the beginning of a new chapter that strengthens the global reach of Saudi businesses. We are proud to align our growth with the nation’s Vision 2030 goals and are eager to continue playing a key role in Saudi Arabia’s transformation.”
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 share a vision for growth and a commitment to providing our customers with world-class logistics services. Our partner’s established business and reputation in KSA will ensure that the joint venture starts off as one of the top five logistics players in the Kingdom of Saudi Arabia. We see this deal as a strong, strategic move for both partners and great news for our customers.”