Maxx eyes fast-growing UAE logistics market |
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Saudi Arabia-based Almajdouie GroupAlmajdouie Group
, one of the oldest and leading third-party logistics providers in the Middle East, has joined hands with UAE-based So Safe International and Chinese Jinghai Transport to create a joint venture called Maxx Logistics.With hopes to benefit from the rapid growth of the UAE's logistics industry, Maxx Logistics has opened a new multi-purpose logistics facility in Jebel Ali Free ZoneJebel Ali Free Zone
worth more than Dh50 million (Dh183.66m) to help it consolidate its operations in the region.According to a new study in Transworld Intelligence's latest benchmark report, the Middle East is one of the regions that will continue to witness high growth in contract logistics despite worries that a worldwide economic slowdown would have a serious impact on volumes and revenues. With an anticipated growth of between 17 and 19 per cent, the region's logistics business is expected to outgrow the entire industry, which is expected to expand at nine per cent.
The UAE logistics market is estimated to reach $40 billion by 2010 due to the country's dedicated efforts to enhance its current infrastructure and its sizeable investments into the development of several key areas.
Maxx Logistics, registered under the sponsorship of Jebel Ali Free ZoneJebel Ali Free Zone
, is equipped with latest technological and modern asset support systems and hopes to establish itself as a dynamic enterprise.Maxx's first facility built on more than 16,000 square metres of land is fitted with modern and high-tech equipment to offer the perfect platform for companies to profitably leverage their supply chains using the new hub as a global gateway.
"The investment in the high-tech facility demonstrates belief in the significance of Dubai as a global business hub. Dubai's visionary development and unmatched infrastructure offer the business world an opportunity to access the enormous potential of the Middle East and beyond," said Abdullah Almajdouie , Chairman of Maxx Logistics. "We will continue to pursue an ambitious plan to facilitate increasing trade and market development, both regionally and globally. Our special emphasis focuses on the ever increasing trade between China and the UAE as well as the global trade through the UAE as a transitional hub."
Construction of a new and fully air-conditioned facility for Maxx Logistics is to be started soon and it will be a 'green building'.
By Staff Writer
© Emirates Business 24/7 2008
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