Logistics

Kuwait’s Agility pays out $30m over scrap site dispute

March 17, 2025, 7:24 PM

Kuwaiti logistics company Agility Public Warehousing has paid out nearly KD9 million ($29.2 million) over the disputed lease — Agility Public Warehousing has paid out nearly KD9 million ($29.2m) over the disputed lease

Court ordered Agility to pay
Extended dispute over lease
Shares up 2% on Monday

Kuwaiti logistics company Agility Public Warehousing has paid out nearly KD9 million ($29.2 million) after losing a 2021 court case over leasing a plot of land in Kuwait used as a scrap site.

“With this payment, the company will have fully executed the aforementioned ruling in favour of the Public Authority for Industry,” Agility said in a disclosure to the Dubai Financial Market and Boursa Kuwait stock exchanges, where it is listed.

Agility, one of the Middle East’s largest logistics companies, operates a scrap site on a 427,000 square metre plot of land in South Amghara, Kuwait.

Agility and Kuwait’s Public Authority of Industry (PAI) were locked in a years-long dispute over the terms of the plot’s lease, which Agility said was worth an annual KD1.4 million in revenue to the company.

The PAI said the lease on the land had expired in 2020, while Agility said no end date was provided in the original contract.

Agility will register the payment as an expense in its first-quarter earnings.

Agility was trading 2 percent up on Monday. Shares in the company are trading nearly 20 percent lower than they were a year ago.

Agility has said it has appealed the court’s judgment with Kuwait’s Court of Cassation.