Kuwait-based global logistics and warehouse provider Agility will invest $60 million for upgrading the infrastructure of Egyptian ports Ein Sokhna and East Port.

The company, listed both on the Dubai Financial Market and the Boursa Kuwait, signed a contract with the Suez Canal Economic Zone on Monday to develop and operate a customs and logistics center in the zone, a statement from Agility said.

The project once complete will enable the Suez Canal Authority to increase commercial activity, quicker release of cargo and better overall operations, it added.

(Writing by Brinda Darasha; editing by Seban Scaria)