Nafith Logistics Services PSC

completed

Nafith Logistics Services (Nafith, or the Company), is a Jordanian private joint stock company providing freight transportation logistics services to Aqaba, Jordan’s sole seaport. Nafith implements and operates a Truck Control System (TCS) that controls the entry and flow of trucks to and from the port. It maintains countrywide freight transportation information that tracks and manages the data and documentation required for international trade and transportation. In August 2011 Nafith was also competitively awarded a contract to build and operate a TCS in Iraq’s Basra governorate for the Ministry of Transport to control all trucks entering Umm Qasr Port, 2 smaller ports (Khor Zubair & Abu Floos), the Safwan border crossing with Kuwait and the movement of imported grains from ship to state-owned silos and warehouses. As part of the agreement Nafith is required to construct a major marshalling yard near Umm Qasr and two smaller yards; implement a customized TCS; and monitor trucks through a Radio Frequency Identification (“RFID”) system to be designed by Nafith. Total investment cost is estimated at around US$8.0 million. Nafith has invited IFC to invest up to US$3.5 million in quasi-equity/equity to support the Company in three main areas, (i) development and commissioning of Iraq project; (ii) widening the scope of service offerings to diversify revenue sources beyond TCS; and, (iii) entering new markets across the MENA region, such as Morocco and Saudi Arabia.