Automated Systems Company has signed an agreement with Kuwait Airways for KWD 16.12 million ($53.5 million) to provide infrastructure services.

The contract duration is for five years starting on Wednesday, 1 April.

Revenues of the contract will be registered in the firm’s financial statements each quarter, starting from the third quarter of 2015.

Automated’s capital stands at KWD 4 million, distributed on about 40.04 million with a par value of 100 fils a share.