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Gulf Dredging and General Contracting wins Kuwait tender


Heavy Engineering Industries and Shipbuilding (HEISCO) said one of its subsidiaries, Gulf Dredging and General Contracting Company, has been awarded a tender worth KD5.7 million ($18.67 million) by Kuwait’s Electricity and water Ministry.
HEISCO is a major engineering, procurement and construction (EPC) contracting company based in Kuwait with a diversified range of business in oil and gas, petrochemicals, power, pressure equipment manufacturing, shipbuilding and repair, dredging and marine construction, major civil construction, maintenance and other industrial services including heavy industry projects.
The company has a 99.92 per cent stake in Gulf Dredging and General Contracting Company.
The tender is in favour of Kuwait’s electricity and water ministry, carrying a maturity period of 36 months, said HEISCO in its filing to the Kuwaiti bourse.
The financial impact of the tender will be operating income that will be registered in the financial statements for fiscal years 2019 and 2020, it added.-TradeArabia News Service

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