The Clap
Aramco signed (2222) a shareholder agreement with DHL to establish a new global center in Saudi Arabia for procurement and logistics services.
What
Aramco stated that the center, the first of its kind in the region, will provide the needs of companies operating in the industrial sectors, energy, chemicals, and petrochemicals.
The project will initially focus on the center’s activities within KSA with the possibility of expanding its services in the future to include the MENA region.
So What
The prospective project will be a huge electronic marketplace, serving energy and chemical companies by supplying their needs of equipment, industrial materials, and spare parts.
Now What
Aramco’s CEO expects that the joint venture, which is expected to be operational by 2025, will contribute to reducing the operating cost and carbon emissions resulting from its operations for beneficiary companies.
