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Kuwait’s Agility KSCP plans to invest over KD 100 mn (c. USD 326.4 mn) by 2030 into Kuwait’s logistics and infrastructure sectors, according to a press release. Key focus areas will include expanding warehousing capacity and industrial real estate capacity, rolling out large-scale data centers, supporting the development of economic zones, and modernizing customs systems and support for efficient supply chains.
Recent Agility regional power plays: Over in Riyadh, Agility Logistics Parks inked a SAR 227 mn strategic partnership with the Riyadh Development Company inked to develop a 97.9k sqm logistics complex in the Al Remal District back in December. Further afield in the region, Agility and Egypt’s Suez Canal Economic Zone inaugurated a new USD 60 mn customs logistics center in March. The facility — spanning 100k sqm — will include a secure storage facility and offer transportation services in a bid to ensure the seamless efficiency of operations.
REMEMBER- Kuwait’s Prime Minister’s Office invested KWD 186 mn (USD 614 mn) back in March 2024 to support developments at Mubarak Al-Kabeer Port and was to complete the project in the 2024-2025 fiscal year. Kuwait’s Public Works Ministry has inked an agreement with the Chinese Transport Ministry's China State Construction Engineering Cooperation to study, design, and establish pre-implementation services to complete MKP in February.
IN OTHER NEWS FROM AGILITY-
Agility Global approved an additional USD 110 mn loan from a subsidiary to Agility Public Warehousing Company (APWC), according to a bourse disclosure (pdf). The company will buy 615 mn shares (5.9% of share capital) at AED 0.5-5 per share from an APWC subsidiary as a partial loan settlement. These transactions will reduce APWC's ownership in Agility Global to 25%. The transaction follows ADX approval for a share repurchase program of up to 1,041,772,440 of its ADX-listed shares which is set to begin on 26 June, according to a separate ADX disclosure (pdf).
