Kuwait – Mubasher: Hot Engineering and Construction Co, a subsidiary of Al Imtiaz Investment Group, has signed KWD 4.46 million worth contract.
The contract has duration period of 690 days, the company said according to a bourse statement issued on Monday.
Hot Engineering is 50.69% directly owned by Al Imtiaz, and 17.3% owned in an indirect way.
The agreement was signed with a consortium of Spain’s Técnicas Reunidas, China’s Sinopec, and South Korea’s Hanwha.
AL Imtiaz expected a profit margin within the range of 3% and 5% of the contract value.
On the stock level, Al Imtiaz retreated by 1% to close at 96 fils.
