FedEx Express Announces $400 Million, 10-Year Investment Plan in Saudi Arabia

FedEx Express, a subsidiary of FedEx Corp. and the world’s largest express transportation company, announced a SR1.5 billion ($400 million), 10-year investment plan to directly service Saudi Arabia’s domestic and international shipping markets. Jack Muhs, regional president of FedEx Express Middle East, Indian Subcontinent, and Africa remarked, “Our customers will be able to take advantage of FedEx digital tools and a wider service portfolio. This strategic expansion in the Kingdom will help Saudi-based businesses connect to new markets and customers around the world, supporting Saudi Arabia’s Vision 2030 goals to diversify the national economy.” FedEx Express has facilitated trade in Saudi Arabia since 1994 through local service providers, most recently SAB Express, with whom FedEx Express will continue to work to provide pickup, delivery, and customs clearance services in the Kingdom.