Saturday 28 January 2023

An MoU being signed

Bahri’s Chemicals and Logistics units sign deals with Luberef

RIYADH, November 21, 2022

Bahri, a global leader in logistics and transportation, said its business units Bahri Chemicals and Bahri Logistics have recently signed Memorandums of Understanding (MoUs) with Saudi Aramco Base Oil Company (Luberef). The agreements are aimed at establishing and enhancing cooperation between Luberef and the two Bahri companies. 
Building on the new partnership, Bahri Chemicals and Luberef will create a mutually beneficial Shipping Framework Agreement that will also impact positively the national economy. Under the terms of the MoU, Bahri Chemicals will provide distinguished logistics solutions and services to Luberef, which will assist by providing details of available shipments that align with vessel dates at load ports.
The MoU was signed by Faisal Al Husseini, Acting President of Bahri Chemicals, and Eng Tareq Alnuaim, President & CEO of Saudi Aramco Base Oil Company – Luberef, during a special ceremony held at Bahri Dubai office. Following the signing, the two parties exchanged mementos and posed for group pictures. 
Bahri Logistics inked the MoU with Luberef during a signing ceremony recently at Bahri. President Eng Soror Basaloum represented Bahri Logistics while Eng Alnuaim signed on behalf of Luberef. 
Mutually beneficial
Al Husseini: “By teaming up to develop a mutually beneficial Shipping Framework Agreement, we aim to not only strengthen the spirit of cooperation between our companies but also create a significant contribution to the kingdom’s economy. We look forward to working closely together to provide world-class logistics services that will drive greater efficiency and ensure smoother operations for our distinguished partners.” 
Eng Basaloum commented: “The agreement aims at providing the best-in-class sustainable and efficient solutions for Luberef’s logistics requirements. The products and services stipulated in the agreement include inland transportation within Saudi Arabia from Luberef plants to local customers for base oil main products; ISO tank container and Flexi-bag logistics solutions for Luberef’s local and export customers; storage hubs around the globe; and tanker storage solution within the local market.
Eng Basaloum further added: “The signing of the MoU with Luberef signifies a significant step in our effort to broaden Bahri Logistics’ local client base to extend our services to various sectors in Saudi Arabia to support the kingdom’s economic diversification drive. This partnership further strengthens our distinguished reputation for offering industry-leading efficient and innovative logistics solutions that add value to our customers. We are confident that our offerings will create a positive impact on Luberef’s business growth, products, and customers.”
Eng Alnuaim said: “The services provided by the two Bahri companies align perfectly with our commitment to delivering greater efficiency and sustainability throughout our operations and we look forward to a long and fruitful partnership with both companies.”-- TradeArabia News Service


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