Aramco, DHL eye US$ 267 mn logistics hub in Dammam

Saudi Aramco and DHL are seeking investors to finance and develop a SAR1 bn (US$ 267 mn) logistics distribution centre in Dammam, said John Pearson, CEO, DHL Express. The project will follow a build-to-order model, with the facility designed to tenant specifications. Under the plan, investors will fund and own the site, while the Aramco–DHL JV will act as the long-term tenant. The partners are said to be promoting the project to firms, including Brookfield Asset Management. The facility is part of Aramco and DHL’s strategy to strengthen procurement and logistics infra in the Kingdom of Saudi Arabia to enhance supply chain efficiency and sustainability. “Our investment reflects the region’s increasing importance in connecting Asia, Europe and Africa,” he added.