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Oula Establishes a Logistics Company

Oula Establishes a Logistics Company

 

Kuwait, May 2018

 

The board of directors of Oula Local Fuel Marketing Company approved the establishment of a closed joint-stock logistics company with a capital of one million dinars, in which Oula Fuel will contribute 96%, explaining that the results are expected in the second quarter 2018. He decided to approve the banking facilities based on offers from the bank, amounting to 2.1 KD million.

The Board of Directors approved the acquisition and construction of a tower of KD 25 million, after obtaining bank facilities, and expects to complete the construction in 2019. He explained that the payments will take place in 2018 and 2019, where the results will appear in the interim financial statements for the two years.