Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has signed two contracts worth KWD 20.65 million ($69.1 million) with the main contractor for executing a new building for Kuwait Oil Company (KOC).
The first contract is valued at KWD 11.9 million, with a duration of 22 months, according to a bourse statement on Sunday.
Meanwhile, the second deal is worth KWD 8.75 million for 11 months.
An operating profit is expected to be realised from signing the two contracts; the profit will be registered in the income statements for the period from 2018 to 2020.
