Saudi Aramco and DHL Supply Chain have signed a shareholders’ agreement for a new Procurement and Logistics Hub in Saudi Arabia, to enhance supply chain efficiency and sustainability, Aramco said in a statement on March 20, Report informs.
According to Aramco, it would be the region’s first such hub catering to customers in the industrial, energy, chemical and petrochemical sectors.
The joint venture aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial, energy, chemical and petrochemical sectors.
The joint venture would initially focus on Saudi Arabia, with aspirations to expand across the MENA region, said the statement.
Aramco’s preeminent energy and industrial supply chain ecosystem and DHL’s world-class logistics expertise are expected to enable the joint venture to add value in meeting customers’ supply chain purchasing, warehouse and inventory management, transportation and reverse logistics needs.