SAL Saudi Logistics, a leading logistics company in the Kingdom, announced the signing of a strategic agreement with Saudi Motorsports Company (SMC), the promotional and organizational arm of motorsports in the country. Under this agreement, signed on January 29, 2024, SAL will provide a comprehensive suite of logistics solutions to support all events and activities organized by SMC across the Kingdom.
Agreement details and scope of services
The contract extends for two calendar years and encompasses a wide range of vital services to ensure the success of major sporting events. These services include land, air, and sea freight, specialized customs clearance services, and support for port and airport operations. SAL will also facilitate logistical coordination at event venues, including managing transportation between different locations. The company clarified in a statement on the Saudi Stock Exchange (Tadawul) that the final contract value will be determined based on the demand for services according to the agreed-upon prices, and the financial impact of this partnership is expected to be positively reflected in its financial results over the contract period.
In the context of Vision 2030 and supporting the sports sector
This partnership comes as part of the significant transformation underway in Saudi Arabia, in line with the goals of Vision 2030, which aims to diversify income sources and develop vital sectors such as tourism, entertainment, and sports. In recent years, Saudi Arabia has become a leading global destination for hosting major motorsport events, such as the Formula 1 Saudi Grand Prix, the renowned Dakar Rally, and the Formula E Championship. These world-class events require advanced logistical infrastructure and highly precise operational capabilities, which this agreement seeks to provide.
The importance of the partnership and its expected impact
Domestically, this agreement strengthens the integration of roles among major national companies to support national objectives, with SAL contributing its extensive experience to enable Saudi Motorsport to organize events to the highest international standards of efficiency. Internationally, having a reliable and capable logistics partner like SAL reinforces the Kingdom's position as a regional and global sports hub, and enhances the confidence of international organizers and participating teams in Saudi Arabia's ability to host and manage major sporting events smoothly and successfully, thus paving the way for attracting more international championships in the future.
