DOHA: The Gulf Warehousing Company (GWC) has signed a joint venture agreement with Silver for Shipping Investment Limited (BVI) to provide shipping, logistics, and other related services in the State of Qatar.
The agreement allows both companies to provide enhanced shipping and logistics services benefiting from each of their experiences in their individual domains.
In a regulatory filing to Qatar Stock Exchange (QSE), the GWC noted that the purpose is to provide improved shipping, logistics, and other related services to liner and non-liner companies requiring them.
GWC expects the yearly revenue from this business to start from QR3m, with the first full financial year for this service to begin in 2019. The service will improve the company’s local market, adding value to the company’s current range of services, and therefore a marginal growth is expected for the company’s overall financial position.
“This service offering contains the common risks and negatives associated with all the company’s activities... There is no conflict of interest between all stakeholders in this operation... There is no ownership percentage changes before and after this service was offered...”, GWC said.
GWC is the leading provider of logistics and supply chain solutions in the State of Qatar. Established as a Qatari shareholding company in 2004; the company offers the full spectrum of high-quality solutions to a variety of industry verticals.
