Kuwait’s Agility Public Warehousing Co. has pledged $60 million to build a customs and logistics center in Egypt’s Suez Canal Economic Zone.
Evergreen’s little misadventure in the canal seems to have left its mark. As a major player in the Suez Canal Economic Zone, Kuwaiti transport and logistics company Agility has set itself the goal of bringing a modern and efficient touch to the canal, which remains one of the busiest waterways in the world today.
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Agility will work to implement its strategic vision for service, logistics, and support by creating a technical and logistics arm that will automate customs processes and operations, according to a company release.
The project is scheduled to be implemented in the second half of 2023, and the release adds that the return on investment “cannot be assessed at this time.” As a reminder, the daily comings and goings on the Suez Canal account for about 12% of the world’s shipping traffic! To be continued…