(MENAFN) Saudi Wared Logistics, a joint venture between Zahid Group Holding and Saudi Binladin Group, signed a contract to buy 75.000 thousand square meters of land in the industrial Valley, Phase 2 of King Abdullah Economic City (KAEC), Arab News reported.
The contract will allow the company to provide the area with exclusive logistic services. The company stated that KAEC is ideally located mainly because of its extensive range of transportation facilities, including Al-Haramain Railway linking KAEC with Makkah and Madinah, as well as with Jeddah and King Abdulaziz International Airport as well as the King Abdullah Port that gives access to over 250 million customers in the region.
"Wared has a proven track record of success in providing third party transportation and logistics services, and support to a number of mega construction projects in the Kingdom, including King Abdullah University for Science and Technology (KAUST). KAEC and King Abdullah Port provide interesting opportunities, including intermodal transport linking sea, road and rail modes," Wared Logistics CEO stated.