Seven companies have submitted bids for a contract to replace power facilities at Kuwait’s Al-Ahmadi oil refinery, a newspaper said on Thursday. 

Imco Engineering and Construction Company has submitted the lowest bid of 16.3 million Kuwaiti dinars ($53.8 million), the Arabic language daily Al-Anba said. 

It quoted “responsible “ oil sources as saying much higher bids were submitted by the other six firms, exceeding 47 million dinars ($155 million). 

The government-owned Kuwait National Petroleum Company, which manages the OPEC producer’s downstream industry, is studying the bids and will shortly award the contract, the paper said without naming the other bidders. 

“The contract involves the replacement of old power facilities at Al-Ahmadi oil refinery as part of expansions under way at the refinery,” it added. 

(Writing by Nadim Kawach; Editing by Anoop Menon)