PIL has signed a Memorandum of Understanding (MoU) with key Saudi Arabian governmental bodies to explore investments in the port, marine, and logistics sectors, marking a significant step in strengthening bilateral cooperation.
Pacific International Lines (PIL) signed a Memorandum of Understanding (MoU) with three key governmental bodies in the Kingdom of Saudi Arabia on 14 October 2024. The agreement, signed with the Ministry of Investment (MISA), the Ministry of Transport & Logistics Services (MoTLS), and the Saudi Ports Authority (MAWANI), aims to explore cooperation and investment opportunities in the Kingdom’s growing logistics and maritime sectors. The MoU was signed by Ugo Vincent, Regional Head of Middle East, Horn of Africa & East Africa for PIL.
The partnership will focus on developing integrated logistics services, multimodal transport solutions, and establishing a shuttle relay service for domestic and regional shortsea markets. To further its commitment, PIL plans to set up a new regional headquarters in Riyadh, Saudi Arabia’s capital, which will manage its operations across the Middle East, Horn of Africa, and East Africa.
In addition to investment, the collaboration will focus on knowledge transfer, developing local talent, and fostering innovation in the maritime and logistics industries. PIL is committed to working closely with both public and private entities to support the Kingdom’s growing role as a centre for global trade and logistics.
This agreement reflects PIL’s broader strategy of “Pushing Boundaries” to deliver innovative solutions for customers and stakeholders while aligning with Saudi Arabia’s ambitions to enhance its global logistics capabilities.
Source: PIL
