Saudi Arabia - Heavy Engineering Industries and Shipbuilding Company (HEISCO), listed on Boursa Kuwait, announced that its branch in Saudi Arabia received a letter of award from the main contractor of a project in Ras Tanura City in the Kingdom.

HEISCO’s branch will execute main civil and mechanical construction works for 28 months in favour of Saudi Arabian Oil Company (Aramco), according to a bourse disclosure.

The contract value stands at SAR 500 million which is equivalent to approximately KWD 41 million, while the project is Install C3/C4 Refrigeration Units and Storage Tanks JNGLF.

The Kuwaiti company will inform the stock exchange once the contract is signed.

It is worth noting that Aramco generated net profits after Zakat and tax worth SAR 119.54 billion in the first quarter (Q1) of 2023.

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