|05 December, 2019

Kuwait's Combined Group wins $65.6mln contract in UAE

The tender is related to the construction of internal roads and infrastructure at Abu Dhabi’s Ras Ghurab Island over a 600-day period

The Kuwait towers, Kuwait. Image used for illustrative purpose

The Kuwait towers, Kuwait. Image used for illustrative purpose

Getty Images/Frans Sellies
Kuwait - Combined Group Contracting (CGC) was awarded tender worth AED 240.46 million (KWD 19.89 million) ($65.6 million), the company said on Thursday in a bourse filing.

The tender is related to the construction of internal roads and infrastructure at Abu Dhabi’s Ras Ghurab Island over a 600-day period, according to CGC’s statement to Boursa Kuwait.

The operating profits resulting from the won contract are set to be reflected in the financial results over the coming years, the company noted.

It is worth noting that CGC’s UAE subsidiary, Combined Group Contracting Emirates, had been awarded a 240-day deal worth AED 23.33 million (KWD 1.93 million).

Source: Mubasher

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