Mubasher: Kuwait and Gulf Link Transport (KGL) and KGL Logistics announced that they will pay a total of $74 million after a court has issued a ruling against KGL International for Ports, Warehousing and Transport and a subsidiary.
The court has also issued a ruling against KGL and KGL Logistics to pay, in addition to the fine, all legal interest and expenses to Doosan Heavy Industries, according to a filing on Tuesday.
KGL owns a share of 38.9% in KGL International for Ports, while KGL Logistics has an equity of 24.3% in it.
KGL noted that it will file an appeal against the court ruling, while the financial impact cannot be determined in the current time.
