The Saudi Arabian Oil Co., also known as Saudi Aramco, announced a new end-to-end procurement and logistics hub joint venture with logistics firm DHL Supply Chain.
Expected to be operational in 2025, the JV aims to initially focus on the Saudi market, with plans to expand across the Middle East and North Africa region.
The new venture aims to provide top-notch integrated procurement and logistics services to further enhance supply chain efficiency as well as sustainability in the region,the company said in a press release.
The JV, which the company said is the first-of-its-kind hub, will provide reliable and sturdy end-to-end services to customers within the industrial, energy, chemical, and petrochemical sectors.
“This partnership brings together two industry leaders, each with long and storied histories,” said Aramco President and CEO Amin Nasser.
By combining the exceptional energy, chemicals and industrial supply chain ecosystem of Aramco with the shipping and logistics expertise of DHL, he said they aim to enable the procurement and logistics hub joint venture to serve as a one-stop hub for customers’ supply chain needs.
“We anticipate that it will not only advance the economic goals of our two companies but also accelerate growth across Saudi Arabia and the MENA region,” the CEO emphasized.
DHL Supply Chain CEO Oscar de Bok added: “By working in partnership with Aramco, we aim to provide regional and multinational businesses from these sectors access to a robust international logistics network, fostering positive economic growth while promoting sustainable activities.”