Deal signed to establish a new contract logistics facility in the Ras Bufontas Free Zone
GAC, one of the largest integrated providers of shipping, logistics and marine services in the region and the world, has recently signed an agreement with Qatar Free Zones Authority (QFZA) to establish a contract logistics facility and office in the Ras Bufontas Free Zone.
The agreement with GAC will play an important role in expanding the logistics offerings for QFZA and Qatar, strengthening supply chains and bolstering Qatar’s position as a global hub for trade.
The virtual signing ceremony was attended by HE Ahmad Bin Mohammed Al-Sayed, the Minister of State and Chairman, QFZA. The deal was signed by Björn Engblom, GAC Group Executive Chairman & Trustee, (via video conference) and Lim Meng Hui, CEO, QFZA, in the presence of Abdulla Al-Misnad, Deputy CEO, QFZA.
Sustainability & business
The purpose-built 27,000 sqm multi-user contract logistics facility, due to be completed in the first quarter of 2022, will be built from sustainable materials, partly fueled by solar power, have several energy-saving features and use recycled water in its operations.
GAC’s marine and offshore services will be well supported by Marsa Port, the marine cluster in Qatar Free Zones. Its operations at the port will serve the energy companies active in the North Field expansion projects.
Top drawer companies
“To bring in the world’s best companies to the zones, we are focused on sectors where we have a strong value proposition for these companies,” asserted Meng Hui.
“As a pioneer of contract logistics in the region in 1993, GAC continues to augment its capabilities in this area at key locations globally, affirmed Engblom.
According to the recent Mordor Intelligence Report on the Freight and Logistics Market, Qatar’s logistics sector is predicted to grow at an annual 7% in the coming years, outpacing the global average.
