Gulf Islamic Investments (GII) has signed a SAR 1 billion agreement with LogiPoint, a Sustainable Infrastructure Holding Company (SISCO Holding), to create a joint venture (JV) for a logistics platform.

The new platform is planned to provide Grade A warehousing solutions across Saudi Arabia, according to a press release.

The JV will offer warehousing and handling facilities to support a multi-asset logistical network serving companies throughout the kingdom.

Farooq Shaikh, CEO of LogiPoint, said: "Our collaboration with GII reinforces our position as leaders in the logistics industry. LogiPoint is proud to be aligned with the Vision 2030 goals, playing a pivotal role in transforming Saudi Arabia into a global logistics hub.”

Pankaj Gupta, Co-founder and Co-CEO of GII, stated: “GII’s partnership with LogiPoint extends GII’s logistics operations across Saudi Arabia to facilitate the rapid expansion of the kingdom’s infrastructure, supporting its booming economy.”

Mohammed Alhassan, the other Co-founder and Co-CEO of GII, commented: “Our logistics JV with LogiPoint is the latest element of GII’s growth strategy within the kingdom, which already includes a CMA banking licence for GII Saudi Arabia and the acquisition of Emad Bakeries in Jeddah within the last two months.”

This partnership marks the second recent logistics deal for GII, a Shari’ah-compliant global alternative investment company with over $4.50 billion in assets under management.

In the GCC, GII has focused on acquiring, aggregating, repurposing, and developing logistics facilities for leading companies, including those in Dubai for Hellman, CEVA, Sinotrans, and Noon.

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