KGL Logistics inks license with Amiri Diwan

The financial impact of deal cannot be measured at the current time

  
Mubasher: KGL Logistics has signed a license related to the KWD 50 million contract with the Amiri Diwan of Kuwait.

Under the 35-year contract, the company will handle the construction, completion, as well as the maintenance and operating works for the motorsport activity in Kuwait City, according to a bourse filing on Monday.

KGL Logistics noted that the financial impact of deal cannot be measured at the current time.

In July, the Kuwaiti company revealed that it will sign an agreement with the Amiri Diwan.

It is worth noting that during the second quarter of 2019, KGL Logistics reported a 22.7% year-on-year decline in profits, recording KWD 1.43 million.

Source: Mubasher

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