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Saudi Arabia has reportedly inked 69 agreements worth over SAR 17 bn during the first day of its Global Logistics Forum in Riyadh, Argaam reports, citing a statement made by Saudi Transport and Logistics Service Minister Saleh Al Jasser to Al Arabiya TV yesterday. Information on specific agreements is still trickling in as we head to dispatch. The forum is set to conclude today.
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The Kingdom has its sights set on growing into a global logistics hub by 2030 with plans to funnel a whopping SAR 1 tn into its logistics sector, Transport and Logistics Services Minister Saleh bin Nasser Al Jasser said yesterday at the opening ceremony of the forum in Riyadh. SAR 200 bn of this amount has already been allocated under the National Transport and Logistics Strategy launched in mid-2021.
Air freight plans: The General Authority of Civil Aviation (GACA) is reviewing applications from four undisclosed international companies looking to enter Saudi Arabia’s air-freight market, Gaca President Abdulaziz Al-Duailej told Aleqtisadiah. Saudi wants to expand its air freight fleet from the current seven cargo planes to 27 and plans to increase the overall number of aircraft in the Kingdom from 241 to 657 by 2030, Al-Duailej said at the forum. Saudi’s fleet would include 187 wide-body and 470 narrow-body aircraft, positioning the Kingdom’s aviation infrastructure as a globally competitive power, he added.
ALSO- Four airports will be offered for private sector management in 2025, Investment Minister Khalid Al Falih was quoted by Al Arabiya and Sky News Arabia as saying. In addition, the Transport General Authority (TGA) and Egypt’s Transport Ministry inked an MoU to bolster cooperation in maritime connectivity, the TGA said in a statement. The MoU aims to develop and advance maritime and shipping activities between the two sides and “promote the use of technologies and electronic platforms to enhance maritime tourism and marinas.”
Here’s some of the agreements inked on the first day:
#1- KSIADC + Ewpartners partner to develop logistics zone: King Salman International Airport Development Company (KSIADC) inked a MoU with international private equity firm Ewpartners to explore the development of an e-commerce and logistics special economic zone within King Salman International Airport, state news agency SPA reports. The zone is slated to boost logistical linkages between China and Saudi Arabia, to expand the Kingdom’s footing as a key regional air cargo hub. The investment ticket was not disclosed.
#2- Agility sees logistics facilities near RUH: Kuwait’s Agility inked an agreement with the Saudi Railway Company to explore the requirements for establishing storage, transportation and processing facilities in Sudair City for Industry and Businesses and near King Khalid International Airport, according to a statement.
#3- Licenses for Riyadh SILZ: GACA has awarded four commercial licenses to leading global companies in the fields of innovative technology, artificial intelligence, logistics services, and e-commerce to operate in the Riyadh Integrated Special Logistics Zone (SILZ), Spa reports. GACA granted a commercial license to a subsidiary of Alat to engage in light manufacturing operations and logistics services, a commercial license to Bahri Logistics to provide logistics services for Boeing aircraft spare parts, a commercial license to Danish company Danfoss to conduct light manufacturing operations, and finally a commercial license to Chinese e-commerce giant Shein for product distribution in a bid to establish a regional distribution hub in the zone to serve the Middle East and North Africa.
