Kuwait’s Central Agency for Public Tenders (CAPT) has approved the award of four contracts by Kuwait Oil Company (KOC) for the construction of crude oil pipelines and associated works, with a combined value of 447.31 million Kuwaiti dinars ($1.5 billion), according to a report by local Arabic language newspaper Alanba.

Contracts by areas are as follows:

South Kuwait

Lowest bidder Mechanical Engineering and Contracting Company was awarded a contract worth KWD 97.86 million ($319 million).

East Kuwait

Heavy Engineering Industries and Shipbuilding Company (HEISCO) was awarded a KWD 97.86 million ($319 million) contract.

North Kuwait

HEISCO was awarded the highest value contract under the programme worth KWD 174.23 million ($568 million). In a related stock exchange statement, the company said it was awarded contract No. 3, Portion III (NK) for the aforesaid value despite being the fourth lowest bidder.

West Kuwait

Combined Group Contracting Company was awarded a contract worth KWD 77.33 million ($252 million).

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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