A Kuwaiti company said on Tuesday it has been awarded a government contract for the repair of power boilers with a value of 15.8 million Kuwaiti dinars ($52 million).

The Heavy Engineering Industries and Shipbuilding Co, which is listed on Kuwait’s Bourse, said it was awarded the contract by the Electricity and Water Ministry.

In a bourse disclosure statement, the Company said the contract involves providing repair services for boilers and associated equipment at the Ministry’s seaside Doha power station in the capital Kuwait City.

“Our Company has signed the contract with the Ministry for duration of 48 months...revenue will be shown in annual financial statements from 2023 to 2027,” the statement said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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