Mubasher:Heavy Engineering Industries and Shipbuilding (HEISCO) announced that it has concluded a 62-month contract worth of KWD 4.018 with Kuwait National Petroleum Company (KNPC).

The contract stipulates cleaning and removal works of coal residuals from multiple heaters using scrapers in KNPC’s refineries, HEISCO disclosed to Boursa Kuwait on Sunday.

The financial impact will be operating profits realised from the deal that will reflect in HEISCO’s financial statements during the period from 2019 until 2024.

It is worthwhile to mention that during the second quarter of 2019, HEISCO’s profits declined by 3.6% year-on-year to KWD 2.79 million, while the earnings increased by 13.8% to KWD 5.44 million during the first half of 2019 when compared to the same period a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.