Integrated Logistics, a subsidiary of Integrated Holding Company, signed a deal with the main contractor of the Bahrain Petroleum Company’s (BAPCO) refinery development project to provide and operate cranes, according to Mubasher.
The contract’s time frame is set for a primary maturity period of two years. Under which, the number of cranes will increase to 92 from 75, with a lift force ranging between 50-1,250 tons at peak starting February 2020.
Moreover, the company is expected to gain approximately $11.25 million (KWD 3.5 million) in revenues during the execution period.
The financial impact is likely to reflect on the company’s income statement starting from Q1 2020 as the project commences.