Saudi Arabian Military Industries signs logistics deal with shipper Bahri

Will provide wide-ranging internal and external logistics services to various business units and affiliated companies of SAMI

  
Bahri welcomes New Year with addition of ‘Kassab’ as its first VLCC in 2018. Image used for illustrative purpose.

Bahri welcomes New Year with addition of ‘Kassab’ as its first VLCC in 2018. Image used for illustrative purpose.

Bahri/Handout via Thomson Reuters Zawya

Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the kingdom’s sovereign wealth fund, Public Investment Fund (PIF), signed a logistics services agreement with crude and chemical shipper Bahri.

Under the deal Bahri, in which PIF holds a 22.55 percent stake, will provide wide-ranging internal and external logistics services to the various business units and affiliated companies of SAMI, the military industries company said in a statement on Tuesday.

SAMI’s five business divisions, as well as its affiliates, including the Advanced Electronics Co., Aircraft Accessories and Components Co. (AACC), SAMINavantia, SAMI L3Harris, and SAMI CMI, will stand to benefit from the agreement.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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© ZAWYA 2021


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