|19 January, 2020

Combined Group’s unit inks $65.71mln deal in UAE

The contract will generate operating profits

Construction Equipment Earth Scooper at Highway Construction Project Image used for illustrative purpose.

Construction Equipment Earth Scooper at Highway Construction Project Image used for illustrative purpose.

Getty Images/ copyright Dan Reynolds Photography

Mubasher: Combined Group Contracting (CGC) announced that its subsidiary in the UAE has signed a tender contract worth AED 240.46 million, equivalent to KWD 19.89 million, ($65.71 million), to develop internal roads and infrastructure in Ras Ghurab Island in Abu Dhabi.

The tender was awarded to Combined Group Contracting Company in Abu Dhabi with the consortium of Combined Group Contracting Emirates, according to the company’s disclosure to Boursa Kuwait on Sunday.

The company referred that the contract will generate operating profits that will be registered in the company’s financial statements of the coming years.

Source: Mubasher

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