Al Kout inks $26.8mln tenders with Kuwait's electricity ministry

Both tenders will have a positive impact on the company’s financial statements

  
Image used for illustrative purpose. A pylon carries electricity from the Wylfa nuclear power station on October 23, 2013 in Tregele, Anglesey, United Kingdom.

Image used for illustrative purpose. A pylon carries electricity from the Wylfa nuclear power station on October 23, 2013 in Tregele, Anglesey, United Kingdom.

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Kuwait -Al Kout Industrial Projects has signed two KWD 8.16 million ($26.81 million) tenders with Kuwait’s Ministry of Electricity and Water.

The first tender, whose value amounted to KWD 7.4 million and has a 36-month term, includes the supply and delivery of chemicals to power and water distillation plants, according to a bourse statement released on Thursday.

With a value of KWD 767,420 and a 36-month term, the second tender includes the supply and delivery of industrial gases to power and water distillation plants.

Both tenders will have a positive impact on the company’s financial statements, Al Kout announced.

Al Kout’s profits levelled up 1.1% to KWD 6.29 million in 2018 from KWD 6.22 million a year ago.

Source: Mubasher

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