Cairo – Mubasher: Agility Public Warehousing, a leading Kuwaiti company in the logistics field, intends to pump $100 million in the first phase of the logistics centre that will be built in East Port Said in Egypt, Al Mal newspaper reported.
Agility, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), is expected to start conducting the economic and technical studies for the logistics project soon, said Mohab Mamesh, chairman of the Suez Canal Authority (SCA), according to Al Mal.
These studies are expected to be completed within 14 months, after which the Kuwaiti and Egyptian entities will operate the logistics centre, Mamesh added, forecasting that the logistics centre in East Port Said to be completed during the first half of 2020.
On Tuesday, Agility signed a cooperation protocol with the SCA to establish and develop this logistic centre in line with the current expansion plans in the East Port Said port to enhance importing, storing, and exporting operations through the Suez Canal pivot.
