ASMO, the joint venture between Saudi Aramco Development Company and DHL, signed a memorandum of understanding with J.P. Morgan at the Supply Chain and Logistics Conference in Riyadh to explore working capital and supply chain financing solutions to enhance liquidity, improve access to capital, and strengthen end-to-end supply chain performance.
The MoU establishes a framework for both parties to assess financing structures to support ASMO’s procurement, logistics, and inventory operations. It also defines guiding principles for potential future agreements and solution deployment.
As part of the collaboration, J.P. Morgan Payments will develop off-balance-sheet inventory finance tools to help ASMO’s customers in Saudi Arabia free up critical working capital through innovative structures. In addition, the parties will seek to expand the range of trade finance options available to ASMO’s customers, including payables and receivables finance, as well as other on-balance-sheet solutions. These models are designed to accelerate supplier payments, extend buyer terms, provide flexible funding, and enable faster, digitally connected transactions, further strengthening ASMO’s commitment to building efficient and resilient supply chains.
“Access to efficient, reliable financing is a critical enabler of supply chain transformation,” said Saad Al-Hajri, Chief Procurement Officer at ASMO. “This collaboration lays the groundwork for solutions that reinforce national objectives, improve liquidity for suppliers, and support the operational scale ASMO is building across key industrial sectors.” James Fraser, Global Head of Trade & Working Capital at J.P. Morgan, said, “We are proud to support ASMO by bringing our global expertise in working capital and digital trade solutions to this strategic collaboration.”
The collaboration supports Saudi Vision 2030’s goals by advancing digital financial infrastructure, expanding access to flexible capital, and reinforcing the foundations of industrial growth across the Kingdom. ASMO’s mission is to provide reliable, world-class procurement and end-to-end supply chain services that create value for companies in the energy, chemical, and industrial sectors across Saudi Arabia and the wider MENA region.
With a focus on efficiency, innovation, and cost optimization, ASMO delivers streamlined and sustainable supply chain solutions powered by advanced technologies. As a contributor to Saudi Arabia’s Vision 2030, ASMO supports economic diversification and resilience by advancing localization and building strategic partnerships.
