Bahri, Bolloré launch logistics JV in Riyadh

The National Shipping Company of Saudi Arabia (Bahri) and France’s Bolloré Group celebrated on Tuesday the official inauguration of their joint venture, BahriBolloré Logistics, Bahri said in a statement.

Riyadh-based BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in the Kingdom.

“The inauguration of BahriBolloré Logistics will enable us to ‎play a significant role in driving an important objective of ‎Saudi ‎Arabia’s Vision 2030, to further raise the Kingdom’s ranking in the ‎global logistics market,” said Ali Al-Harbi, acting chief executive of Bahri‎.

The JV is 60 percent-owned by Bahri and 40 percent-owned by Bolloré.

Bahri signed in July a SAR 15 million agreement with the wholly-owned transport and logistics business unit of Bolloré Group to set up a logistics services joint venture in Riyadh.

Under the deal, the partners will increase the share capital to SAR 30 million in three months from the date of incorporating the new entity.