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Kuwait - Heavy Engineering Industries and Shipbuilding (HEISCO) was awarded a KWD 1.668 million tender for the import of seamless pipes.
The 36-week tender is offered by Kuwait Oil Company (KOC), according to a bourse statement on Wednesday.
The transaction will generate operating profits that will reflect on HEISCO’s financial statements for fiscal year 2019/2020.
It is worth noting that HEISCO achieved a decrease of 4% in profits during the second quarter of 2019, while over the first half, the company recorded a growth of 13.8% in profits to KSA 5.44 million
Source: Mubasher
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