|20 October, 2019

Agility invests $267mln in Saudi Arabia

Agility is an investor in the digital transportation platform 'Homoola'

Palettes of bottles of water and fruits juice are pictured in a warehouse that belongs to Nestle Waters in Henniez, April 1, 2019. Image for illustrative purposes.

Palettes of bottles of water and fruits juice are pictured in a warehouse that belongs to Nestle Waters in Henniez, April 1, 2019. Image for illustrative purposes.

REUTERS/Denis Balibouse
Mubasher: Agility Public Warehousing has inaugurated a new logistics complex in Riyadh, Saudi Arabia, as part of other investments worth SAR 1 billion ($267 million) being carried out by the Kuwaiti company across the kingdom.

Opened on 17 October 2019, the new complex spans an area of 900,000 square metres and was developed by Agility Logistics Parks (ALP).

Furthermore, it includes storage and logistics facilities that conform to the highest standards, and that were built on an area of 250,000 square metrs, according to a recent statement.

The complex will offer its services to multinational companies as well as small and medium-sized enterprises (SMEs) across the kingdom.

In this regard, the Saudi minister of transport Nabil bin Mohammed Al Amoudi stated that the new project aims at empowering the sector and creating investment opportunities to investors in Saudi Arabia.

The project comes as part of the works of the logistics committee and the National Industrial Development and Logistics Program in line with the objectives of the Saudi Vision 2030, he added.

Agility’s CEO Hanadi Al Saleh remarked that the firm has logged SAR 1 billion worth of investments to develop the logistics facilities across the kingdom, noting that the new logistics village in Riyadh proves Agility’s commitment to make Saudi Arabia a regional and global hub for logistics services in light of the objectives of the Saudi Vision 2030.

It is worth highlighting that Agility, dually listed on Boursa Kuwait and the Dubai Financial Market (DFM), is an investor in the Saudi-based digital transportation platform, Homoola.

Source: Mubasher

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