|01 September, 2019

Al Imtiaz Investment unit wins $29.6mln contract from Kuwait Gulf Oil Company

The subsidiary is expected to achieve a profit margin of 2% to 4% of the contract

Image used for illustrative purposes. Oil rig workers work on the ChevronTexaco drilling platform January 15, 2003 near the Saudi Arabian border, Kuwait.

Image used for illustrative purposes. Oil rig workers work on the ChevronTexaco drilling platform January 15, 2003 near the Saudi Arabian border, Kuwait.

Getty Images/Joe Raedle

Kuwait -Al Imtiaz Investment Group announced that one of its units has won a KWD 7.63 million contract from Kuwait Gulf Oil Company (KGOC).

Under the five-year contract, the unit will provide mechanical maintenance services for the joint operations in Wafrah, according to a bourse filing on Sunday.

The company added that its subsidiary is expected to achieve a profit margin of 2% to 4% of the contract value, affirming that this percentage varies according to the phases of the project and its duration.

Source: Mubasher

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