Mubasher: Combined Group Contracting has signed a tender contract valued at KWD 102.55 million ($338.3 million) in the UAE, according to a bourse statement on Wednesday.
The tender deal covers building and executing maintenance works of 410 villas in Al Mirfa area in Abu Dhabi, the UAE.
The company clarified that this tender was previously awarded on its subsidiary Combined Group Contracting Emirates in mid-November 2018.
Combined Group added that the tender contract has a 640-day duration, the statement said.
It added that the financial impact of this contract is operating income that will be registered in the financial statements of Combined Group during the coming years.
At the stock level, Combined Group closed Wednesday’s session 2% lower at 302 fils.
