Aramco-DHL venture signs deal for Eastern Province warehouse
- Link-up with Bahrain’s Arcapita
- Site in King Salman Energy Park
- Plan for national logistics network
Asmo, a joint venture between Saudi Aramco and DHL Supply Chain, has signed an agreement with Arcapita to develop a logistics facility in King Salman Energy Park.
Arcapita, a private equity company based in Bahrain, will fund and own the 1.4 million-square-metre facility in Saudi Arabia’s Eastern Province. Asmo will develop, lease and operate the site under a 22-year lease.
It will include a 43,000-sq-m temperature-controlled warehouse, over 3,000 sq m of offices and staff facilities, 5,300 sq m of chemical storage space and a 1.2 million sq m open yard.
The site is Asmo’s first purpose-built logistics centre and is part of four it plans to build to underpin a national logistics network, aligned with Saudi Arabia’s Vision 2030.
Once operational, the project will serve Aramco, its affiliates and other industrial businesses.
The cost and projected timeline have not been disclosed.
King Salman Energy Park, also known as Spark, is located between Dammam seaport and Aramco’s site at Abqaiq. It has attracted more than 70 investors from 16 countries, with the first phase infrastructure costing $1.6 billion.
Vision 2030 aims to transform the country’s aviation and logistics industry, increasing annual cargo capacity from around 1 million tonnes to 4.5 million tonnes by the end of this decade.
Further reading:
- Demand for fresh food drives cold chain investment
- DHL logistics centre in Riyadh to be ready in 2027
- Aramco and DHL seek backers for Dammam logistics hub
You May Also Like
Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?
TomaTok and SoulCore Merge DeFi, AI, and SocialFi
