Good morning ladies and gentlemen, and welcome.
It is an honor to help inaugurate this exciting new joint venture between two titans of industry: Aramco, the world's preeminent integrated energy and chemicals company and DHL, the global leader in shipping and logistics.
I want to begin by expressing my gratitude to the nominated CEO of Deutsche Post-DHL Tobias Meyer, and DHL Supply Chain CEO Oscar de Bok.
This ceremony is a testament to your leadership and vision.
I also want to acknowledge all of the people from across both companies who have worked hard to bring that vision to life. Your collaboration has made today possible.
Aramco and DHL have long and storied histories. Combined, we have close to one hundred and fifty years of experience across our respective industries.
Now, we are coming together to create a world class procurement and logistics hub—one that will provide comprehensive supply-chain services for the energy, chemical, and industrial sectors of the Kingdom and broader MENA region.
Aramco has an exceptional energy, chemicals, and industrial supply chain ecosystem. DHL has unparalleled shipping and logistics capacity.
The procurement and logistics hub will harness these qualities, leveraging the unique expertise of two market-makers to offer customers a one-stop-shop for their supply chain needs.
By providing a full range of industry-tailored services under one roof and leveraging economies of scale, the hub will be an efficient and cost-effective option.
By utilizing the latest digital technologies, it will strengthen productivity and enhance operations.
And by offering more visibility on emissions across the supply chain, it will help to advance our shared goals of a more environmentally sustainable future.
Customers will also benefit from the hub's location at the heart of the Kingdom in the middle of a dramatic transformation.
There are exciting changes underway all across Saudi Arabia, and each day presents a new opportunity.
In formalizing this joint venture, Aramco and DHL have seized one of those opportunities.
Years from now, I am confident we will look back and regard today as an important milestone, not just for our two companies, but also for the Kingdom's continued development and that of the whole region.