Mubasher: KGL Car Rental, a subsidiary of Kuwait and Gulf Link Transport (KGL), signed a credit facility agreement with a local bank at a value of KWD 11.55 million.
The loan is for financing the contract previously signed with Kuwait Oil Company (KOC), according to a bourse filing issued on Tuesday.
A revenue worth KWD 11.32 million is expected to be realised from this agreement for three years.
At the stock level, KGL ended Tuesday’s session 1.47% lower at 67 fils, after about 20,700 shares were traded at a value of nearly KWD 310,100.
