Bahri Logistics signs MoU with MOSOLF

News 13 Sep 2022 by WCN Editorial

The parties will collaborate on the development of automobile supply chains across Saudi Arabia

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The agreement between Bahri Logistics, a business unit of the national shipping carrier of Saudi Arabia, and the MOSOLF Group, a leading system service provider for the automotive industry in Europe, aims to establish and develop an automotive logistics framework initially focused on Saudi Arabia with plans to expand across the Gulf Cooperation Council (GCC).

Through the efficient utilization of the parties’ industrial expertise and shared resources, the mutually beneficial agreement seeks to deploy innovative solutions that will enhance the automobile supply chain network domestically and regionally.

The MoU was signed by Soror Basalom, President of Bahri Logistics and Gregory Hancke, Vice Chairman of the Executive Board of the MOSOLF Group (COO), during a special ceremony held at The Ministry of Investment in Riyadh.

Under the terms of the partnership, Bahri Logistics and MOSOLF will work collaboratively to develop and operate an automotive logistics system in the Kingdom which prioritizes B2B fulfilment and the application of industry-leading logistics practices.

The MoU is in line with Saudi Arabia’s Public Investment Fund’s (PIF) recent investments in the car industry focusing on the luxury and electric vehicles markets. PIF, which owns a 22% share in Bahri, is a majority stakeholder in American electric vehicle manufacturer Lucid Motors, which has agreed to build its second factory in Saudi Arabia’s King Abdullah Economic City in the near future.

According to Soror Basalom, Saudi Arabia aims to manufacture 300,000 cars annually by 2030.