Mubasher: The government of Mozambique has permitted the Kuwaiti company Agility Public Warehousing to launch a $100 million project to establish a logistics village in North Maputo.
The project will be executed under a cooperation agreement between the Agility and the government, a Mozambican official told Al-Rai newspaper.
The construction of the new logistics village’s buildings is expected to be completed within 11 months, and create around 5,000 jobs, the official added.
According to Agility Africa, the project is part of Agility’s plan to build a slew of logistics villages in major African markets that meet the latest international standards in a bid to bolster both domestic and regional trade in the continent.
Agility Public Warehousing, dual-listed on Boursa Kuwait and the Dubai Financial Market (DFM), reported a 29.8% year-on-year profit rise for the first quarter of 2018, recording KWD 18.9 million ($62.81 million) versus KWD 14.56 million ($48.38 million).