BLZ signs tenancy deal with Saudi developer
Manama, May 2, 2013
The Bahrain Logistics Zone (BLZ), part of the Transportation Ministry's Ports and Maritime Affairs, has signed a tenancy agreement with Bandar Al Khaleej, a leading Saudi developer of warehouses and logistics facilities.
The contractual lease agreement was signed by Transportation Minister Kamal Ahmed and Bandar Al Khaleej managing director Mansour Abdul Aziz Al Subaie, said a report in the Gulf Daily News, our sister publication.
Bandar Al Khaleej and the BLZ will work together to set up an economical and efficient warehousing solution.
The layout, concept and feasibility study have been successfully completed and Bandar Al Khaleej is due to start construction in the next few months.
"This development represents a key milestone for the BLZ, and will help support Bahrain's logistics offering and our position as a regional transshipment hub," Mr Ahmed said.
"The BLZ has a truly unique offering that includes competitive rates, world-class services for commercial, import/export and re-export activities, efficient turnaround times and close proximity to the state-of-the-art Khalifa Bin Salman Port (KBSP).
"All of these help make BLZ an ideal destination for companies looking to establish a strong foothold in the GCC.
"We are confident that this venture will provide mutual benefits to meet the growing demand of specialised logistics across the $1 trillion top-tier markets of the Gulf," he added.
"We have selected Bahrain as our latest destination for the development of logistics warehouses for operations due to its prime location which plays an important role as a distribution hub for Saudi Arabia and the North Gulf markets," Al Subaie said.
"Ultimately, this will lead to a drastic increase in the number of companies with specialised expertise and operational skills, especially those looking for a readymade warehousing facility, setting up shop in Bahrain, which will help support Bahrain's economy in the future," he added.
Located within 3km from the KBSP, BLZ offers 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 focuses 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, palletising for distribution, labelling, testing and repair.
Bandar Al Khaleej is a closed joint stock company based in Al Khobar, Saudi Arabia. It is involved in the development of storage and warehousing facilities to support the logistics requirements of various industry segments. – TradeArabia News Service