KUWAIT CITY, May 8 (Xinhua) -- Kuwait Ports Corporation (KPA) has achieved the highest net profit since its establishment during the fiscal year 2018-2019, with 48 million Kuwaiti dinars (157.74 U.S. dollars) in revenues of 97 million (318.76 U.S. dollars), Sheikh Yousef Abdullah Sabah Al-Nasser Al-Sabah, director general of the KPA, announced on Wednesday.
At a press conference held at KPA in Shuwaikh area, he said that the profits are due to the return of shipping traffic to neighboring countries.
"The accomplished profits are due to the return of shipping movement to the neighboring countries, including Iraq and Iran," he said.
He pointed out that these results achieved by KPA are due to three main factors: anti-corruption, saving of expenses, and the recruitment of new national cadres.
The Kuwait Ports Corporation is a Kuwaiti governmental institution established in 1977 for the management of commercial ports, namely the port of the Shuwaikh, the port of Doha and the port of Shuaiba.