Page 14 - MEOG Week 12 2023

MEOG NEWS IN BRIEF MEOG

SERVICES industrial supply chain ecosystem and DHL’s said: “We are extremely excited to announce
world-class logistics expertise are expected the signing of this agreement with Aramco.
Aramco and DHL agree to enable the joint venture to add value in Through it, DHL intends to foster its business
operations and logistics networks throughout
meeting customers’ supply chain purchasing,
procurement, logistics JV warehouse and inventory management, Saudi Arabia and the MENA region while
transportation and reverse logistics needs.
expanding our industrial footprint. By
Aramco, one of the world’s leading integrated The aim is for the joint venture to achieve working in partnership with Aramco, we
energy and chemicals companies, and industry best practices in procurement and aim to provide regional and multinational
international contract logistics provider supply chain management, as well as the businesses from these sectors access to
DHL Supply Chain have announced the deployment of more sustainable supply chain, a robust international logistics network,
signing of a shareholders’ agreement for transport and warehousing solutions. fostering positive economic growth while
a new Procurement and Logistics Hub Amin H. Nasser, Aramco President promoting sustainable activities.”
in Saudi Arabia, to enhance supply chain & CEO, said: “This partnership brings Through state-of-the-art technologies, the
efficiency and sustainability. It would be the together two industry leaders, each with joint venture is expected to allow businesses to
region’s first such hub catering to customers long and storied histories. By combining the reduce costs, maximise efficiency and harness
in the industrial, energy, chemical and exceptional energy, chemicals and industrial digitalisation. It represents the culmination
petrochemical sectors. supply chain ecosystem of Aramco with the of several years of cooperation between
The joint venture aims to be operational world-class shipping and logistics expertise of the two companies, and aims to transform
in 2025 and provide reliable end-to-end DHL, we aim to enable the Procurement and inventory and logistics management, expand
integrated procurement and supply chain Logistics Hub joint venture to serve as a one- business, create jobs and enable economic
services for companies across the industrial, stop hub for customers’ supply chain needs. diversification in Saudi Arabia and the MENA
energy, chemical and petrochemical sectors. We anticipate that it will not only advance the region.
The joint venture would initially focus on economic goals of our two companies but also The formation of the joint venture is
Saudi Arabia, with aspirations to expand accelerate growth across Saudi Arabia and the subject to regulatory approvals and other
across the MENA region. MENA region.” customary closing conditions.
Aramco’s preeminent energy and Oscar de Bok, DHL Supply Chain CEO, ARAMCO

P14 www. NEWSBASE .com Week 12 22•March•2023