Saudi-based Reza­yat Lo­gis­tics to in­vest $15mn in Duqm

Muscat Daily - - BUSINESS -

Saudi Ara­bia’s Reza­yat Lo­gis­tics Group an­nounced that it has signed an agree­ment with Port of Duqm for in­vest­ing around US$15mn in set­ting up a base near the port, which will be used to serve on­go­ing projects in the area.

In a press state­ment, the Saudi-based firm ex­plained that it has iden­ti­fied Duqm as an area of in­ter­est in 2018. And now, they have decdiced to lease four hectares of land in­side Port of Duqm’s lo­gis­tic hub.

The ini­tial in­vest­ment of US$15mn will be pri­mar­ily used in pro­vid­ing ser­vices such as tem­per­a­ture-con­trolled, chilled, frozen and gen­eral ware­hous­ing, heavy trans­porta­tion, equip­ment rental, crane rental, and gen­eral trans­port which will ex­pand its ex­ten­sive GCC net­work and fleet.

Com­ment­ing on the de­vel­op­ment, An­drew Ritchie, coun­try man­ager of Reza­yat Lo­gis­tics Group said, “The se­lec­tion of Port of Duqm was a nat­u­ral choice. This mod­ern, strate­gi­cally lo­cated, and well-equipped port is a crit­i­cal piece of in­fra­struc­ture and key to the suc­cess of the re­gion’s de­vel­op­ment.”

He said, “We are proud to sup­port Port of Duqm with our busi­ness. Over the last few decades, Reza­yat Lo­gis­tics Group have been a trusted part­ner in the growth of the oil, gas and en­ergy sec­tors in the GCC and is look­ing for­ward to be a part of the suc­cesses that will un­doubt­edly fol­low in the Duqm re­gion.”

Reza­yat Lo­gis­tics Group is a Saudi based, closely held fam­ily owned busi­ness group serv­ing the in­ter­na­tional en­ergy sec­tor since 1949. The group em­ploys over 20,000 peo­ple in 24 coun­tries with a mix of wholly owned busi­ness units and strate­gic joint ven­tures.

The group is ac­tive in di­verse sec­tors such as lo­gis­tics and equip­ment rental, en­gi­neer­ing and con­struc­tion, trad­ing, man­u­fac­tur­ing, ho­tels and hos­pi­tal­ity, marine ser­vices, en­ergy and wa­ter man­age­ment, in­sur­ance and in­vest­ment, and in­for­ma­tion tech­nol­ogy and telecommun­ications.

(Sup­plied photo)

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