Mubasher: Al Imtiaz Investment Group on Monday announced that a 50.69% subsidiary has won a two-year contract at a value of KWD 3.48 million ($11.5 million).
The contract entails implementing emergency works in Kuwait National Petroleum Company’s (KNPC) refinery in King Abdullah Port.
Al Imtiaz noted that its stake of profits will be 50.69%, according to a statement to Boursa Kuwait.
The unit is expected to achieve a profit margin ranging between 2% and 4%.
The group’s profits slumped 49.4% from January to September 2018, to KWD 17 million, from KWD 33.75 million in the same months of 2017.
