17 AUG 2021
Riyadh, 17 August 2021: In line with its commitment to develop the capabilities and support the localization of Saudi Arabia’s military industries sector, Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), signed a logistics services agreement with Bahri, a global leader in logistics and transportation. Under the terms of the agreement, Bahri will provide wide-ranging internal and external logistics services, including sea, air, and land transport, as well as freight services to the various business units and affiliated companies of SAMI.
The agreement was signed at the headquarters of SAMI in Riyadh by Eng. Walid Abukhaled, the CEO of SAMI, and Eng. Abdullah Aldubaikhi, the CEO of Bahri. The effective date of the contract is 15 June 2021, and it includes the provision of complete door-to-door logistics and transportation services to facilitate the smooth execution of the projects and programs of SAMI and its affiliates, besides supporting the localization of defense logistics.
Commenting on the agreement, Eng. Walid Abukhaled, CEO of SAMI, said: “We are delighted as the national defense champion to partner with Bahri, the national shipping carrier, to meet our growing logistics requirements. The agreement demonstrates the Kingdom’s dynamic efforts to develop its military industries sector by boosting local capabilities. The shared objectives of SAMI and Bahri in relation to Vision 2030 will have a major impact on the synergies within the Kingdom’s defense ecosystem. Moreover, this achievement is consistent with PIF’s efforts through SAMI to build strategic partnerships.”
Eng. Abdullah Aldubaikhi, CEO of Bahri, said: “Bahri is proud to be contracted by SAMI and pleased to support their defense industry localization programs. We are honored that our contributions are aimed at ensuring Saudi Arabia’s security, especially in our role as the exclusive logistics provider for the Kingdom’s Ministry of Defense and Ministry of Interior as well as the Presidency of State Security and all its divisions. Furthermore, this agreement reaffirms our commitment to strengthening leading Saudi entities operating in the public and private sectors by providing them world-class logistics services, in line with the Vision 2030 objectives that aim to transform the Kingdom into a global logistics hub and a thriving investment destination.”
Under the agreement, SAMI’s five business divisions, as well as its affiliates, including the Advanced Electronics Company (AEC), Accessories and Components Company (AACC), SAMINavantia, SAMI L3Harris, and SAMI CMI, will be the beneficiaries of Bahri’s logistics services. Though the agreement presently covers the Saudi market, it is likely to be expanded to include the global defense and logistics sector in the future.