Saudi Bahri signs logistics joint venture with Bolloré
Saudi Arabia Under the agreement, the new entity will be called Bahri Bolloré Logistics and offer logistics and supply chain solutions for companies operating in Saudi Arabia and also those interested in doing business with the country. Bahri will own a 60% stake in the partnership.
In related news, Bahri also added a tanker built by Hyundai Heavy Industries, ASLAF, to its fleet on Wednesday. The addition of the 300,000-tonne crude oil carrier brings the number of Bahri’s fleet up to 86 vessels.
The move to expand its logistics capacity contributes towards the strategic objectives of Saudi Arabia’s Vision 2030 – namely to establish a unique logistic platform across three continents. Saudi Vision 2030 is a set of strategic goals and targets aimed to transform Saudi Arabia’s economy and reduce the country’s dependence on oil.
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