Mubasher: Kuwait and Gulf Link Transport (KGL) said that the contract which was signed on Sunday with the US army has a value ranging from $689.53 million to $1.38 billion.

KGL clarified that the minimum value for this deal stands at $68.95 million, according to a bourse filing on Sunday.

The minimum value of this contract is expected to generate 5% return or $3.45 million.

The contract’s duration starts on 12 January 2018; the return realised from the contract will be registered in the subsidiary’s income statements for the third quarter ending on 30 September 2018.

On Sunday, 14 January, KGL said that its 99%-owned subsidiary KGL Food Services Co has signed the main supplier contract with the US Defense Logistics Agency.