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Government plans comprehensive logistics system

The government is working on a project to establish a comprehensive logistical system, starting with storage, that will provide a strategic stock of basic needs for over a year. The project aims to offer various commercial logistical services, including open and covered warehouses, with a significant focus on storing medicines and foodstuffs for long-term periods in accordance with international quality standards, reported Al-Rai Daily.

The government’s directives have been implemented by the General Authority for Investment, which established the Kuwait Storage Company with a capital of 50 million dinars, fully paid. The Investment Committee is currently working on selecting the company’s board of directors, which includes seven members with specialized competencies.

The storage system aims to operate with a capital capacity of 300 million dinars or more, within two to three years, with the government taking precautionary measures to confront emergencies and fluctuations in global medicine and food markets. The Kuwait Storage Company will identify suitable sites and vacant lands expected to be exploited in the targeted project, and the plan requires starting with warehouses close to the main ports in the north and south of the country.

The government’s storage system aims to eliminate external storage options, provided that it meets the needs of the public and private sectors, as well as private sector companies. Depending on the project’s development stages, the Kuwait Storage Company may undergo a listing on the stock exchange in the future.

The project’s objectives begin with a diverse range of logistical services, including operating storage facilities for all types of air cargo, container handling services, storage in warehouses, refrigerated and refrigerated warehouses, storage in grain and flour silo warehouses, storage for food and agricultural products, chemical stores, and more. The climate will not differ much from that of the private sector, with a framework based on competitiveness.

The project also includes transporting refrigerated and frozen goods, furniture, livestock, and new cars, as well as providing ground and support services for aircraft, owning, selling, renting, and leasing ground equipment and machinery necessary for aviation services, and more.

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