Mubasher: Hot Engineering and Construction Co, a subsidiary of Al Imtiaz Investment Group, signed a construction contract worth $24.47 million, according to a bourse statement issued on Thursday.
The contract has a duration period of 20 months, and will cover constructing facilities in Al-Zour area for importing liquefied natural gas (LNG) for Kuwait’s Petrochemical Industries Company.
Al Imtiaz’s unit signed the contract with Hyundai Engineering and Construction Co., the statement added.
A profit margin ranging from 3% to 5% of the contract’s value is expected to be realised.
At the stock level, Al Imtiaz closed Thursday’s session 1.26% higher at 161 fils, after 7.07 million shares were traded at a value of KWD 1.13 million.
