While expanding its logistics network in the domestic market, Sinotrans is expanding overseas. An agreement with Almajdouie is to set up an engineering logistics joint venture in Saudi Arabia. Almajdouie is a Saudi group of companies, which was established by Shaikh Ali Ibrahim Almajdouie in 1965.
The two parties hope to further extend this cooperation which is 50-50 owned by Sinotrans and Almajdouie though no figures are mentioned.
Almajdouie, its headquarters shown here, was founded in 1965 and has grown into a group company with diversified operations in logistics, real estate, automotive sales, steel, and food. it is largest inland transport services provider in Saudi Arabia and has cooperated with Sinotrans since 2005.
In the past three years, both sides completed the customs clearance and 500,000-freight ton inland transport of five cement production lines owned by Sinoma International in the country. Almajdouie also provided services for a cement plant built in Saudi Arabia by Sinoma International.
Sinotrans Group has said that it will focus on two flagship businesses in the future:
1. The shipping business of Sinotrans Shipping.
2. Integrated logistics of Sinotrans Limited.
Sinotrans’s businesses include freight forwarding, express services and shipping agency, storage and terminal services, marine transport and other trucking transportation-based services.
Source: Trading Markets