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FINANCIAL NEWS
Kamco joins hands with Anham
30 Oct 2010
(MENAFN) Kuwait’s Kipco Asset Management (KAMCO) and Dubai-based ANHAM Co. have set up a joint $17 million closed company for contracting in logistics, covering the Middle East and North Africa and securing logistics for the American forces serving in the region.
Speaking at a news conference, Saadoun Abdullah Ali, KAMCO’s Managing Director and Chief Executive Officer (CEO), said the strategic partnership would create new investment opportunities for the clients.
KAMCO is already coordinating with ANHAM for securing supplies for the American Army troops based in Kuwait, Iraq, and Jordan, in line with a tender, won last April For his part, Mogheith Sukhtian, Managing Director of ANHAM Co., said the new company would be initially in charge of securing heavy equipment for transports.
ANHAM, since winning the tender for delivering supplies to the American Army in April 2010, has been dealing with up to 100 Kuwaiti companies for securing these services for the Americans.
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