Kuwait’s Heavy Engineering Industries and Shipbuilding Company (Heisco) said on Thursday it has signed a service contract with the Kuwait National Petroleum Company (KNPC) with a value of 17.84 million Kuwaiti dinars ($59 million).

The bourse-listed company said the contract for quality control services for KNPC refineries- Group A has a duration of 62 months.

The statement said revenue from the contract with KNPC, which manages Kuwait’s downstream oil industry, would be shown in the Company’s annual financial statements during 2023-2028.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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