Egytrans, a leading Egyptian logistics and transport provider renowned for its comprehensive integrated solutions, and Links Investment, a prominent Saudi-based investment firm committed to fostering economic growth and sustainable development, have finalized an agreement to establish a limited liability company (LLC) in the Kingdom.
Both entities will hold an equal 50 percent equity stake in the newly formed company, which is projected to have a total capital of $2 million (10,000,000 SR). The establishment of this joint venture is set for completion by the end of Quarter 1, 2024 with an initial capital of $13,3287 (500,000 SR).
Strategically headquartered in Riyadh, the new company will be poised to enter the transport and logistics industry, offering comprehensive services.
According to the statement, “Leveraging Egytrans’ expertise in project logistics, particularly in the oil, gas, and renewables sectors, the company intends to align with KSA’s upcoming large-scale renewable energy projects scheduled for implementation in 2025 under Vision 2030.”
This move aims to meet the growing logistics demands and renewable energy initiatives in the region. The collaboration will draw upon Links Investment’s significant business diversification, extensive asset base, international partnerships, and substantial land bank across KSA, enabling the expansion of operations and enhancement of logistical capabilities.
Ms. Abir Leheta, CEO of Egytrans, said that, “The collaboration with Links Investment, a dynamic Saudi Arabian enterprise, to establish a pioneering company focusing on wind farms and other specialized transport solutions is a strategic move. This collaboration, based on shared objectives, aims to capitalize on the burgeoning Saudi market.”
Mr. Mansour Al-Mobty, CEO of Links Investment, noted that the new company signifies a significant advancement, combining Egytrans’ logistical proficiency with Links Investment’s strategic investments to capitalize on the projected growth opportunities in the logistics sector in Saudi Arabia.
