| . |  |
. |
| . | |
. |
Kuwait Gets Multi-Billion Dollar US Military Contract
Kuwait City (AFP) Jun 04, 2005 The US Defense Department has awarded Kuwait's Public Warehouses company (PWC Logistics) a billion-dollar contract to supply US forces in the region, the company announced Saturday. The 1.4 billion dollar contract to supply US troops in Kuwait, Iraq, Jordan and Turkey will span 18 months, PWC Logistics said on the Kuwaiti Stock Exchange website. The company added that the contract could be extended for a total of five years, and could increase to 14 billion dollars. The actual value of the contract would "depend on the number of US troops present in those countries, which could increase or decrease, depending on need," the announcement said. The Kuwait Stock Exchange, which has been reeling under correction pressures for the past two weeks, rebounded strongly on news of the contract, the second for the company in less than four months. During trading, the KSE index gained 3.6 percent to reach 8,683 points, just below its all-time high of 8,692.70 points set on April 27. PWC Logistics was awarded a 3.27 billion-dollar deal in February to supply the US Army, Navy, Air Force and Marine Corps located in Kuwait, Qatar, Iraq, and Afghanistan. That contract would expire around mid-December of this year. According to unofficial estimates, Kuwaiti companies have received US contracts worth around 15 billion dollars since late 2002 when Washington began preparations for the US-led war in Iraq. Related Links SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express
Analysis: Dark Clouds Follow Lightning
Washington, (UPI) June 3, 2005Operation Lightning, the Iraqi security forces' major drive to crack down on guerrilla operations in Baghdad, has delivered some useful results in its first week, but the wave of bombings and killings across Iraq continues unabated. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
