Al Imtiaz Investment’s unit wins $58mln deal in Kuwait's South Mutlla City

The deal will be matured after 30 months

  
Image used for illustrative purpose only. Workers install a pipeline at a construction site as part of China's South-North Water Diversion Project, which aims to relieve the country's drought-ridden north by diverting water from the southern and central part of the country, in Cangzhou, Hebei province, May 4, 2014.

Image used for illustrative purpose only. Workers install a pipeline at a construction site as part of China's South-North Water Diversion Project, which aims to relieve the country's drought-ridden north by diverting water from the southern and central part of the country, in Cangzhou, Hebei province, May 4, 2014.

REUTERS/China Daily

Kuwait - A subsidiary of Al Imtiaz Investment Group was awarded a KWD 17.62 million tender deal by the Central Agency for Public Tenders related to the construction, completion, and maintenance of four main fresh water lines in South Mutlla City affiliated to Kuwait's electricity and water ministry.

The deal will be matured in 30 months, according to a bourse statement on Sunday.

Moreover, the contract is likely to generate a profit margin ranging from 2% to 4% of the total value, Al Imtiaz Investment highlighted, adding that such percentage is not fixed and the group's share will be calculated based on the net profit and its ownership equity in the subsidiary, 50.69%.

Source: Mubasher

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