International Distribution Network SPC, the distribution arm of Sainsbury’s which is one of the UK’s largest food retailers, is preparing to establish a new operations hub at Sohar Port.
Through its new hub in Sohar, the distribution arm of Sainsbury’s aims to launch over 12,000 fast-moving consumer goods (FMCG) products in the Middle East and Africa region.
Meanwhile, National Bank of Oman (NBO) has been selected as the onshore banking partner for International Distribution Network SPC, according to a press statement issued by NBO on Sunday.
It’s the latest such collaboration for NBO, highlighting the bank’s tailor-made capabilities for multi-national corporations, while supporting projects that are contributing to the sultanate’s economic development.
AsifRedha, head of global transaction banking at NBO, said, “We are glad to offer our services to International Distribution Network SPC Oman and looking forward to strengthening our mutual collaboration over the coming years. NBO is always at the forefront of providing innovative technological solutions to international and local businesses.”
Redha further said, “Our corporate digital services help institutions to manage their liquidity and reduce their costs. Meanwhile, our unique digital platform offers tailor-made solutions to the FMCG and logistics industries for seamless local and foreign payments as well as offering international trade finance capabilities with a single sign-on.”
Sainsbury’s, a multi-brand, multi-channel retailer, has over 1,400 stores throughout the UK. Through the operations hub of International Distribution Network SPC set up recently in Sohar, Sainsbury’s now has access to potential markets encompassing the Middle East and Africa, which is home to nearly 1.4bn people.
Sohar Port and Freezone through a tweet in August announced that Sainsbury’s will set up operations at SoharFreezone under the company International Distribution Network SPC.
From its new operations hub at Sohar, International Distribution Network SPC plans to supply and reach Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, Jordan, Egypt and Pakistan, besides Oman.
ShahidRafique K, director – sales and operations at International Distribution Network SPC, said, “We are delighted to have chosen NBO as our onshore banking partner and are confident that the collaboration will help us to capitalise on the geographical advantages that Oman offers, as well as its rapidly developing transport and logistics infrastructure, as we seek to grow our presence in the wider region.”