Kuwait and Gulf Link Transport Co. announced that a 100%-owned subsidiary KGL Transportation has concluded a contract worth of KWD10.84 million ($37.2 million) with the state -run Kuwait Oil Company -KOC.

Under the agreement, Kuwait and Gulf Link will rent various types of vehicles as well as drivers to KOC, said a bourse filling.

The agreement duration is four years, added the statement.

The new contract is expected to generate profit margin of around 5% which may vary due to any extraordinary circumstances that may take place during the enforcement period.