Under the arrangement, AEC will hold a 51% stake in the joint venture while Kellton Tech EU will hold the remaining 49%. The JV has an initial term of five years, which will be automatically renewed for successive three-year periods. It will initially operate across GCC countries, with the venture planning to open an office in Doha, Qatar, as its first step outside Kuwait, ahead of a proposed expansion into Saudi Arabia, the UAE and Oman.
