Al Imtiaz Investment's unit wins Ministry of Electricity and Water tender

The subsidiary is expected to achieve margin net profits

  

Mubasher: A subsidiary of Al Imtiaz Investment Group, in which it owns a 50.69% stake, was granted a 30-month tender worth KWD 5.4 million ($17.4 million) by Kuwait's Ministry of Electricity and Water.

Under the tender, the subsidiary will implement the initial operation and maintenance of the infrastructure works for receiving fuel systems within Shuwaikh power station in Kuwait, according to the company's disclosure to Boursa Kuwait on Tuesday.

The subsidiary is expected to achieve margin net profits of 2% to 4% of the contract's value, and the group's profit share will be calculated in proportion to its ownership in the subsidiary.

Source: Mubasher

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