May 06 2006 |
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Mishrif Trading looks for new markets in Gulf
KUWAIT: Mishrif Trading and Contracting Company held a press conference recently on their premises. Fahed Al-Wazzan, the chairman and managing director noted: "Our company has major projects in construction and infrastructure all over the region in Qatar, Bahrain, Iran, and UAE and our plan is to look for new markets in Iraq, Lebanon, Oman and Yemen." As part of this plan he added that the company would "under right its shares in the stock market and this will be from the beginning of June 2006."Mishrif is an old company with more than 40 years experience. It is also planning to increase its capital for the coming year. Its expected profit this year is KD 60,000,000. The company has been recently awarded the ISO 9001 certificate.
"The company works in several fields, recycling of sewage water, and construction of highways, pumping stations, building skyscrapers and oil. The company's projects are inside and outside Kuwait and they have reached KD 190,000,000. One of these projects is in Abu Dhabi and it includes the construction of a biggest shopping mall," Al-Wizen noted.
The company's reputation in the field of infrastructure for both public and private buildings is good, and it is working hard to increase its shares in the private sector and in the Build, Operate and Transfer (BOT) sector.
Last year's profit was KD 1.831 million and 61.5 fils per share.
There are many large projects in the company for exporting oil. He added, "We work also as a subcontractor with international companies in similar projects. This is not the only place where the company holds other major projects, we are also in other Gulf countries." Due to its good reputation in the region, Mishrif is constructing one of the biggest projects in Qatar with the co-operation of international French and German companies.
By Nancy Oteifa
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