Kuwait’s Combined Group Contracting Company (CGCC) said on Tuesday its affiliate in the UAE has won a contract to build an industrial zone on Delma Island in Abu Dhabi with a total value of around 158.8 million UAE dirhams ($43 million).

CGCC said in a Kuwaiti statement that Abu Dhabi-based Aldar Properties, which is spearheading development projects on the Island, has informed the firm that it has been awarded the contract.

“CGCC-UAE has been notified by Aldar that it has been awarded the project for the development of the infrastructure for the industrial zone on Delma Island,” it said.

The statement said the project would allow CGCC to make profits during the execution stage but it did not mention when it would be completed.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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