Kuwait's KGL in $870m logistics deal

15/05/2011 00:00 AST

Kuwaiti logistics firm KGL said on Sunday that one of its units has won an $870 million logistics contract with the US Army along with three other companies.

Also known as Kuwait and Gulf Link Transport Co, KGL said in July 2010 that the US government had agreed to look into an objection filed by the company regarding the award of a military supply contract to its competitor, Anham.

KGL said that Anham did not meet the minimum bidding requirements for the contract.

"One of the units... has won with three other firms the Heavy Lift 7 contract with the US army in areas of Kuwait, Iraq and Saudi Arabia worth $870 million, for five years starting September 2011," KGL said in a statement on the Kuwaiti bourse website on Sunday.

KGL said it could not specify its share of the contract because it depends on the army's needs. In March, KGL said it signed a four-year storage contract with the US military worth $157 million.

The firm's shares were up 9 percent at 0800 GMT on the Kuwaiti bourse, after it made the announcement.


Reuters

News

KGL Transport wins key US army contract in ME

21/03/2018

Kuwait & Gulf Link Transport (KGL), an international logistics firm based in Kuwait, revealed that the US Army has awarded it a new contract to support heavy line haul operations for the US Military

Trade Arabia

KGL awarded US government contracts worth almost $2bln

12/03/2018

Kuwait and Gulf Link Transport Company (KGL) announced that two of its subsidiaries have been awarded transportation and supply contracts with the US Army worth up to $2B (USD). One of its subsidiari

Arab Times

Kuwait Ports Authority tells KGL to evacuate

18/02/2018

The Director-General of the Kuwait Ports Authority (KPA), Sheikh Yousef Al-Abdullah Al-Sabah, said the Kuwait & Gulf Link Transport Co (KGL) has been notified to evacuate 270,000 square-meters of lan

Arab Times

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Valuation

KGL Sector Market
P/E
Price/BookValue

Top Related Companies

Ticker Price Change
IQCD 108.99 0.99 (0.91%)
QEWS 186.60 -1.50 (-0.80%)
MPHC 15.10 -0.17 (-1.12%)
AGLTY 825.00 -10.00 (-1.20%)
ALBH 0.56 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap