Dubai: Kuwaiti freight and logistics firm Agility will invest Dh550 million in expanding its UAE facilities under a Dh1.83-billion plan to grow its global network in two years.
Agility, earlier known as PWC Logistics, is setting up new facilities and pursuing acquisition talks in a number of countries, Eisa Anwar Al Saleh, managing director for corporate development, told Gulf News yesterday.
Listed in Kuwait and Dubai, the company aims to increase its revenues to $8 billion in 2008 from $4.5 billion last year.
"We are building capacity and network to achieve the targets we have set for 2008. The group's rebranding is part of this process," Al Saleh said.
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In the UAE, Agility will build a new logistics centre in the Jebel Ali Free Zone covering 300,000 square metres and is set to open a facility in Dubai Investment Park.
It is investing about Dh1 billion in a logistics centre in Saudi Arabia, Dh176 million in Oman and Dh183 million in Turkey.
"Expansion in the Middle East region will play an important role in our growth," Al Saleh said.
Agility will also boost its presence in North Africa, Europe and key Asian markets such as India, Pakistan and China, he added.
Agility employs 20,000 people at 450 offices in more than 100 countries. Top companies within the PWC group are GeoLogistics and TransOceanic and Trans-Link.
The group's biggest acquisition was US firm GeoLogistics for $450 million last year.
Agility is in talks for potential acquisition with five companies, Al Saleh said, without giving details.
"We continue to look at acquisitions as part our strategy for growth," he said.
