Kuwait – Mubasher: Combined Group Contracting (CGC) said a consortium of its UAE-based subsidiary, Al Mushtaraka, and TERNA was awarded a bid worth KWD28.87 million, or BHD36.09 million, ($95.53 million) in Bahrain.
The two contractors will be responsible for infrastructure activities in the northern city’s islands no. 10, 11, and 12 within 36 months, effective from June 2016, GCC added in a bourse filing.
The relative estimated financial impact is to achieve a net value of 0.487% by the first year, 5.022% by the second year, 4.676% by the third, and finally 0.815% in the fourth year, GCC indicated.
Last week, Al Mushtaraka was awarded a tender worth KWD77.3 million ($255.7 million) held by Kuwait’s Ministry of Public Works
