Kuwait – Mubasher: The assets of Al Kout Industrial Projects have surpassed KWD 30 million, chairman Fahed Yaaqoub Al Jouan told Alrai Media.

The Kuwait-based company is currently studying the acquisition of factories abroad, Al Jouan added.

Al Kout’s production capacity has quintupled since the establishment of the firm, he said, noting that the firm’s production has set foot in major markets in Africa and Europe as flows abroad reached 60%.

The chairman highlighted that the market volume in terms of export and re-export has been reduced compared to other markets.

The National Assembly of Kuwait is cooperative and serious steps should be taken to adjust the law of bids and other legislations related to the industrial sector, Al Jouan continued.

Al Kout had previously reported a 27.7% year-on-year surge in profits for the first half of 2017 to KWD 3.74 million from KWD 2.93 million in H1-16.