Aramco + DHL Supply Chain announce procurement and logistics hub in Saudi Arabia: Saudi oil giant Aramco has formed a joint venture with DHL subsidiary and contract logistics provider, DHL Supply Chain, to create a new end-to-end procurement and logistics hub in Saudi Arabia, in ajoint statement yesterday. The statement did not disclose the respective companies’ contributions, or the precise location of the hub. The hub is set to be operational by 2025.

The details: The hub will cater to customers across an array of sectors including industrial, energy, chemical and petrochemical, helping them with supply chain purchasing, warehouse and inventory management. The hub will also deploy more “sustainable” supply chain, transport and warehousing solutions, which is expected to mitigate business costs and maximize efficiency, according to the statement.

Looking ahead: The JV will eventually expand operations across the MENA region, the statement said.

What they said: Through this JV, “we aim to enable the procurement and logistics hub to serve as a one stop hub for customers supply chain needs, that will not only advance the economic goals of our two companies, but also accelerate growth across Saudi and the MENA region,” Aramco CEO Amin Nasser said.

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