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Kuwait’s Shipbuilding Co., KNPC sign $298.8mln contract

Tuesday, 22 August 2023 | 16:00

Kuwait-based Heavy Engineering Industries & Shipbuilding Company (HEISCO) said Sunday it has signed a contract worth KD 91.7 million (around USD 279.6 million) for a mechanical maintenance service at Mina Abdullah Refinery (MAB) project with a duration of 63 months.

The project’s revenue will be shown in annual financial statements from 2023 to 2028, the company said in a disclosure on the website of the Kuwaiti stock exchange, known as Boursa Kuwait.

Established in Kuwait in 1974 and listed on the stock exchange in 1984 with an authorized capital of KD 22 million (around 67 million), HEISCO has a diversified range of business in oil and gas, petrochemicals, power, pressure equipment manufacturing, shipbuilding and repair, dredging and marine construction, civil construction, maintenance and other industrial services.
Source: Kuwait News Agency (KUNA)

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