Saudi Arabia is continuing to funnel funds into a project to bulk up its port and logistics muscle, as French maritime carrier and logistics provider CMA CGM today said it has signed an “ambitious agreement” to develop port infrastructure in the Red Sea, logistics services, and multimodal platforms to enhance the middle eastern nation’s inland logistics capabilities.
The deal comes as Saudi Arabia continues to expand its role as a strategic regional hub and to attract investments in transport infrastructure through its “Vision 2030” economic diversification program.
Within the nation, CMA CGM already operates three offices, an integrated logistics network, and 11 weekly service calls, connecting Saudi ports such as Jeddah, Dammam, and Jubail to global markets. And through its subsidiary CEVA Logistics, CMA CGM provides logistics solutions for the needs of both local and international businesses there. CEVA Logistics also established a joint venture in October with Al-Majdouie, a regional supply chain provider, expanding CMA CGM’s logistics footprint in Saudi Arabia.
CMA CGM’s overall global presence spans 160 countries, employing 160,000 people. As the third-largest global container shipping company in terms of capacity, it serves over 400 ports across five continents, supported by a fleet of more than 650 vessels. And through its CEVA Logistics subsidiary, the company is one of the top five global logistics players, managing over 118 million square feet of warehouse space worldwide.
