CEVA to invest US$800 million in Middle East
CEVA Logistics has announced a US$800 million expansion strategy to increase its presence in the Middle East.
The logistics company, which has opened its regional headquarters in Jebel Ali Free Zone, will capitalise on the investment by launching a series of warehouses throughout the Middle East.
“We believe in this market. The infrastructure is impressive and there is a lot of potential for growth in the region,” said Shamsudeen Ahmed, Middle East director of CEVA Logistics.
“We currently have a 20,000m2 facility, which is totally full, and will open several more facilities by 2009.”
The initial phase of CEVA’s expansion strategy will focus on further growth in Jebel Ali Free Zone. It plans to open an 8000m2 warehouse in October 2008, followed by an 11,000m2 warehouse in December 2008. An additional 63,000m2 facility will also be opened in the free zone by the middle of 2009.
“The growth in Jebel Ali Free Zone marks the beginning of our expansion strategy and we have similar plans in other Middle Eastern countries,” added Ahmed.
CEVA Logistics has already signed a deal with United Holding Group to establish a partnership in Bahrain, where it plans to lease 10,000m2 of land at Bahrain Logistics Zone (BLZ).
“Bahrain is an important platform for logistics operations, especially for the oil and gas sectors, and our presence at BLZ will allow us to service our client base more effectively,” said Ahmed.