07 AUG 2024

The collaboration between the two entities will play a crucial role in localizing the maritime industries and contributing to the Kingdom’s economic diversification objectives

Riyadh, KSA, 7 August 2024: Bahri, the National Shipping Company of Saudi Arabia and a global leader in logistics and shipping, has signed a strategic Letter of Intent (LOI) with Ma’aden (the Saudi Arabian Mining Company), the largest multi-commodity mining and metals company in the Middle East. This collaboration, inked in the presence of representatives from the Ministry of Investment, aims to establish business integration opportunities between the two national giants aiming to localize the maritime industries and develop resilient supply chains.

On the signing, Eng. Ahmed Ali Al Subaey, CEO of Bahri, said: "We are delighted to work together with Ma'aden, one of the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. This collaboration emphasizes Bahri’s effective and reliable offerings as the national shipping company and further strengthens our position as a global leader within this dynamic industry."

On this occasion, Bob Wilt, CEO of Ma'aden, said: "As a global exporter, access to Bahri’s extensive shipping capabilities ensures that Ma’aden can support localization of the maritime industry in Saudi Arabia. Having worked with the Bahri team across our fertilizer business in recent years, we are confident that this collaboration will open up new growth opportunities across other areas of our business while continuing to support the national economy."

-ENDS-