Mubasher: Combined Group Contracting announced that its UAE subsidiary has signed an AED 94.98 million ($26 million) contract to design, implement, and develop Sieh Shuaib road.
The Kuwaiti group stated that the project will be implemented within 548 days, according to a statement to Boursa Kuwait.
Sieh Shuaib road is a dual carriageway that links between Mohammed Bin Rashid road and Emirates street intersection.
During the full-year 2018, Combined Group Contracting’s profits went up 4.9% to KWD 5.12 million, from KWD 4.88 million in 2017.
In February, the Boursa Kuwait-listed company stated that Combined Group Contracting Emirates awarded a KWD 9.64 million tender, while the parent firm inked a deal worth KWD 102.55 million to build and maintain 410 villas in the UAE.
Combined Group Contracting’s stock remained unchanged to close Tuesday’s trading session at 285 fils.
