As part of its expansion and growth plans, Wared Logistics, a joint venture between Zahid Group Holding and Saudi Binladin Group, has signed a contract to buy 75,000 square meters of land in the Industrial Valley Phase 2 of King Abdullah Economic City (KAEC) to provide exclusive logistic services for KAEC companies, employees, and residents.
Fahd Al-Rasheed, managing director and CEO of KAEC, and Marwan Alfadl, CEO of Wared Logistics, signed the contract at a special ceremony that took place at the Bay La Sun Hotel and Marina in King Abdullah Economic City.
Al-Rasheed expressed his pleasure that Wared chose KAEC as the hub for its logistics and transportation business, noting that Wared is a major company in this industry in the Kingdom. “The Saudi transportation and logistics sector is growing exponentially on an annual basis and KAEC is ideally located for this type of business due to the unrivaled range of express transportation facilities, including Al-Haramain Railway linking KAEC with Makkah and Madinah, as well as with Jeddah and King Abdulaziz International Airport. Furthermore, the Industrial Valley is directly connected to the King Abdullah Port that gives access to over 250 million customers in the region,” he added.
Al-Rasheed also pointed out that KAEC provides a promising business environment for investors, thanks to the advanced infrastructure and special services offered by the authorities to KAEC clients, adding that the Industrial Valley is fully equipped to enable investors to pursue their ambitions and future plans.
Amr M. Khashoggi, vice president group affairs of Zahid Group of Companies, said, “We are proud to be part of the economic city’s growing business community. The highly advantageous investment environment has helped the city to succeed in attracting the biggest local, regional and global business organizations, including some that are operating for the first time in Saudi Arabia.”
He added that Wared combines the expertise of Zahid Group and Binladin Group, each of whom has more than 60 years of experience in the Saudi market, along with the company’s own capabilities to satisfy local market needs using the latest technologies to serve the industrial and commercial enterprises operating in the Industrial Valley.
Alfadl said: “As a leading local company, Wared is fully equipped to link all enterprises at KAEC with its integrated services network for shipping, importing containers, brokerage, deploying advanced technologies, providing supply chain solutions, and other specialized trade operations.”
He added: “Wared has a proven track record of success in providing third party transportation and logistics services, and support to a number of mega construction projects in the Kingdom, including King Abdullah University for Science and Technology (KAUST). KAEC and King Abdullah Port provide interesting opportunities, including intermodal transport linking sea, road and rail modes. Wared is finalizing plans to develop a state-of-the-art multi-temperature warehouse in KAEC, extensively supported by inbound logistics, distribution throughout the Kingdom, the rest of the GCC and Egypt, as well as value added services.”