Kuwait’s Agility to invest $60m to modernize Suez Canal Economic Zone

The Suez Canal is one of the busiest waterways in the world, accounting for about 12 percent of world shipping traffic (Shutterstock)

RIYADH: Kuwaiti supply chain firm Agility Public Warehousing Co. has committed $60 million to build a customs and logistics center in Egypt's Suez Canal Economic Zone.

Agility will work with SCZone on implementing its strategic vision in service, logistics, and support by setting up a technical and logistics arm that will automate customs processes and operations, according to a statement by the company.

The project is scheduled for implementation in the second half of 2023, and the statement added that the return on the investment “cannot be assessed at this time.”