Binzagr purchases more land in KAEC Industrial Valley
Binzagr Company has purchased 163,453m2 of land in the Industrial Valley at King Abdullah Economic City (KAEC) in order establish a new logistics center that will strengthen its ability to provide customer service
Binzagr Company has purchased 163,453m2 of land in the Industrial Valley at King Abdullah Economic City (KAEC), Saudi Arabia, in order establish a new logistics center that will strengthen its ability to provide customer service.
Fahd Al-Rasheed, managing director and group CEO, KAEC, said: “We are very pleased and proud that Binzagr has decided to expand their presence in the Industrial Valley based on their future business needs.
"By making this further investment Binzagr recognizes KAEC-IV as the main logistics hub on the Red Sea and in the entire region. In addition, the land bridge will enable us to easily reach all regions of the Kingdom.”
Abdullah Binzagr, CEO and chairman of Binzagr Group, added: "We have absolute confidence in the Saudi economy and our expansion in the Industrial Valley aims to support the company’s future growth and promote our leadership in the field of product distribution and the FMCG sector."
Binzagr added: "We are confident that our investment in King Abdullah Economic City will support our efforts to make a difference in our products and services, in addition to adding value to all those customers who consume our products. We believe that the outcomes will show as soon as we start operations in our new location at King Abdullah Economic City.”
According to Saudi Gazette, the new land purchase will add to its previous acquisition of 300,000m2 in the Industrial Valley and construction is expected to commence by Q2 2018.