A subsidiary of Kuwait’s Public Warehousing Company (PWC), in partnership with a foreign firm, was selected by the Kuwait National Petroleum Company (KNPC) for a three-year contract valued at 4.3 million Kuwaiti dinars ($14.5 million), reported the Kuwait Stock Exchange.
In 1979, PWC was established as a shareholding company and was privatized in 1997 when National Real Estate Company acquired approximately a 26.8 percent interest in the company. Initially, the company provided property management services, specifically warehouse management.
Since its privatization, the company has gone from being a provider of warehousing facilities and management to being a provider of total logistics solutions including, property management, supply chain management, customs solutions, and modernized IT solutions. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
