The National Shipping Company of Saudi Arabia (Bahri) and Saudi Electricity Company (SEC) recently signed a Memorandum of Understanding (MoU) for a period of five years, appointing Bahri to transport all the equipment, tools, spare parts and products imported by SEC. The MoU was signed by Engr. Ibrahim Al-Omar, CEO of Bahri and Engr. Ziad Al-Shiha, CEO of SEC.
This agreement is aimed at supporting strategic resettlement of projects for electrical industries and exchange of experiences between the two companies to provide an appropriate work environment. This may also contribute to the successful implementation of government plans to promote domestic industries, in light of the overall economic boom in the Kingdom of Saudi Arabia at all levels in recent years, emphasised a release.
As per the MoU, which was signed at SEC headquarters, a joint working group comprising a number of specialists and experts from the two companies, will be formed to study the ever-strengthening cooperation between them and formulate the plans needed to implement the strategies of Bahri and SEC for effective transportation and the resettlement of electrical industries.
Integrated logistics services for marine, land and air transportation will be provided as stipulated in the MoU. The SEC will nominate Bahri to offer its services to those who deal with suppliers and contractors both domestic and international in accordance with the high reliability of Bahri.
SEC revealed in May its strategy to localise electrical industries in the Kingdom through three major initiatives based on stimulating local contractors and manufacturers, and highlighting investment opportunities in the promotion of spare parts and materials industries locally.
Bahri plays the vital role of contributing to the growth of the Saudi shipping industry and linking it to many important global markets with its fleet of ships and VLCCs, as well as ownership of a network of multiple branches and subsidiaries and many agents around the world. This, in turn, makes it easy to link the Saudi economy with the most important economies and global markets through several strategic business sectors represented in oil transport, gas and marine services, chemicals transport, general cargo, bulk cargo transport and ship management, the release highlighted.
This post was written by Atlantic Admin