The Dubai-headquartered shipping and logistics services provider Gulf Agency Company (GAC) has signed an agreement with the Qatar Free Zones Authority (QFZA) to set up a contract logistics facility and office in the Ras Bufontas Free Zone.
The online signing ceremony was attended by the Minister of State and QFZA chairman Ahmad bin Mohamed al-Sayed, while the agreement was signed by the Group executive chairman & trustee of GAC, Bjorn Engblom and CEO of QFZA Lim Meng Hui, in the presence of QFZA deputy CEO Abdulla al-Misnad.
The new agreement will hold an important role in widening the logistics offerings for QFZA and Qatar, leveraging the supply chains and bolstering Qatar’s position as a global hub for trade.
The purpose-built 27,000 sq m multi-user contract logistics facility which is due to be finished in the first quarter of 2022, will be constructed from sustainable materials, partly fuelled by solar power, have several other sustainability supporting features.
The warehouse will serve key sectors like fast-moving consumer goods (FMCG), food and beverage (F&B), fashion, sports, energy, aerospace, and healthcare and to support cold chain operations it will maintain temperatures ranging from -18°C to +22°C and will feature dedicated mezzanine levels for value-added services activities like component assembly, repacking and labeling to improve customers’ supply chains.
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.
“The role of the free zones is to partner with companies who bring services that our local and regional market needs, allowing them to grow and our economy to grow with them. 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.”
Speaking at the virtual ceremony Mr. Engblom stated that, “We have seen robust demand for GAC’s logistics services, including integrated solutions for the energy sector, and foresee even greater opportunities in Qatar in the lead-up to the global football sporting event in 2022 and as the North Field expansion projects progress.”
As per a recent Mordor Intelligence report about the freight and logistics market, Qatar’s logistics sector is expected to grow at an annual 7 percent in the following years.
The heavy investment in logistics infrastructure has helped Qatar to become a major regional logistics hub and the major national projects, including the North Field expansion and the 2022 FIFA World Cup which are helping to fuel the domestic demand for specialized logistics services.