Egytrans + Links to partner on new logistics firm: Egyptian logistics and transport firm Egytrans and Saudi-based investment firm Links Investment have partnered up to establish a joint logistics and transport company based in KSA, according to a statement. The company is projected to have a total capital of SAR 10 mn with an initial capital of SAR 500k, the statement notes. The timeline for completing the setup of the JV is slated for 1Q 2024.

The details: The new company will be headquartered in Riyadh and will provide transport and logistics services by leveraging Egytran’s oil, gas, and renewable logistics expertise and Links’ business diversification, asset base, partnerships, and land banks, the statement notes. The JV will focus on wind farms and other specialized transport solutions, Egytrans CEO Abir Leheta commented.

What they said: The partnership aims to capitalize on the “burgeoning Saudi market,” as KSA has the largest potential market for logistics providers in the region, with analysts estimating that up to some USD 240 bn worth of projects are currently being implemented in the country, and up to USD 1.8 bn are available for third party logistics providers, Leheta commented.

Egytrans has been expanding its operations: Egytrans had revealed back in August its fine print for its 99.9% acquisition of the National Transport and Overseas Services Company (NOSCO) through a share swap.

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