Kuwait Al Imtiaz Investment’s unit pens $56.49mln deal

The period of the deal is 30 months

  

Kuwait  - A subsidiary of Al Imtiaz Investment Group has signed a 30-month deal valued at KWD 17.62 million with Kuwait's Ministry of Electricity and Water for the construction, completion, and maintenance of four main fresh water lines in South Mutlaa City, according to a stock exchange filing on Thursday.

The subsidiary is likely to generate a profit margin ranging from 2% to 4% of the total value of the contract, Al Imtiaz Investment said, noting that such percentage is not fixed and subject to change as per several factors, including the project workflow, the execution period, and the completion percentage.

The group's profit share will be calculated as per its ownership equity in the subsidiary, 50.69%.

Source: Mubasher

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