Saudi Arabia signs 7 agreements worth one billion riyals to establish new logistics centers
Saudi Arabia has signed seven agreements valued at over one billion riyals to establish new logistics centers in Jeddah, with the goal of transforming the city into a global logistics hub in line with Vision 2030. The agreements involve the participation of two international companies, Maersk Group and JD Frim China, along with five Saudi companies with international ambitions. These centers will contribute to creating more jobs, improving logistics services, and enhancing the economic value of Jeddah, with contract durations expected to range from 20 to 25 years. These investments are part of the Kingdom’s efforts to develop its infrastructure and prepare to leverage supply chains during the Strait of Hormuz crisis and regional demands.
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