Bahrain Logistics Zone signs key tenancy agreement with Almoayed Wilhelmsen Ltd.
General Organisation of Sea Ports (GOP) announced the signing of a prime tenancy agreement between Almoayed Wilhelmsen Ltd. and the Bahrain Logistics Zone (BLZ) the Kingdom's only dedicated customs – free, value-added logistics park. Almoayed Wilhelmsen Ltd., a leading shipping and transport company has signed a 20 year agreement, leasing more than 4000m2 of land at the state-of-the-art multimodal logistics park, BLZ.
Located within the Khalifa Bin Salman Port (KBSP) and the industrial community, BLZ will offer companies dedicated value-added warehousing facilities tightly integrated with the Kingdom's maritime and distribution capabilities. Under administrative jurisdiction of the General Organisation of Seaports, BLZ is set to facilitate streamlined movement of logistics traffic, positioning Bahrain as a multimodal logistics centre for Kingdom of Saudi Arabia and the northern Gulf.
Commenting on the announcement, Hassan Ali Al Majed, Director General GOP said: "We are pleased to welcome Almoayed Wilhelmsen Ltd, one of the pioneers and most reputed shipping names in the Kingdom to the Bahrain Logistics Zone. Designed to reflect the economic vision and aspirations of the Kingdom, the BLZ has been prudent in the selection of its tenants. Our lease agreements take into account the economic goals of Bahrain, and we are confident that Almoayed Wilhelmsen Ltd will positively contribute to the national interest by adding value in terms of generating investment, creating job opportunities and solidifying Bahrain's position as a viable logistics hub in the Gulf."
Almoayed Wilhelmsen Ltd. was founded in 1976 as a joint venture between one of Bahrain's leading families A.K. Almoayed and Norwegian shipping company, Wilhelmsen of Oslo. The company offers personalized services in all sectors of the shipping and transport industry providing a unique combination of integrated shipping, logistics and maritime services.
Mr. Per Jorgensen, General Manager of Almoayed Wilhelmsen Ltd said: "BLZ's strategic location in close proximity to the Kingdom's new sea port and access to prime transportation links made it our preferred base for expanding our operations. Additionally, BLZ's wide variety of value-added warehousing services including round-the-clock customs and support facilities have allowed us to move our export and distribution of general cargo services to a common location thus streamlining functions and facilities that were earlier disparate. More importantly, our premises at the BLZ will allow us to offer comprehensive logistics solutions to our customer's value added goods and products. The BLZ investment will enable delivery of the WSS offer. With this move, we look forward to expanding our business and deriving maximum benefit in terms of operational efficiency."
GOP has been actively promoting the Kingdom's logistics and maritime credentials by reaching out to potential target markets through international and regional road shows. Earlier this year a senior level delegation visited Japan and Germany to establish stronger logistics engagements. As a result, the BLZ is today in serious negotiations with various international, regional and local companies and is expecting to sign further lease agreements in the coming months.
Located within three kilometres from the KBSP, BLZ will offer companies in distribution, manufacturing, and shipping the opportunity to add value to their products while enjoying a full suite of services including dedicated customs services and ready-built warehouses among others. The multi-modal logistics park will focus on attracting a niche of re-export and value-added logistics activities, such as but not limited to: component assembly, packaging, repackaging, bottling, deconsolidation/consolidation, palletizing for distribution, labelling, testing and repair.
- $280 billion later: Middle East airlines' plane ordering binge to slowdown
- A whole new GDP: Dubai's aviation sector stands at $26.7 billion
- Upcoming aviation summit could put Iraq's $50 billion industry back on the map!
- The sky is the limit: GCC lack of airspace coordination threatens Dubai's aviation aspirations
- Not just the Suez Canal: another massive infrastructure project coming to Egypt