Agility secures $142-million US military logistics contract – Business, Agility, Fuel, Oil, Logistics, Storage, US, Military

Kuwaiti logistics giant Agility has been awarded a contract by the US-based Defence Logistics Agency to provide fuel storage services in Guam for US $62-million (AED 227 million).

The contract term is for four base years, with a five-year extension option and is valued at US $142-million including the option period, the company said in a statement to the Dubai Financial Market.

Agility is also one of several potential buyers of the investment management unit of Dubai-based Abraaj, which filed for provisional liquidation in the Cayman Islands in June.

The move followed months of turmoil related to a row with investors over the use of their money in a US $1 billion (AED 3.67 billion) health care fund.