Kuwait’s Al Imtiaz Wins KWD 11.5 MM Tender

Kuwait’s Al Imtiaz Wins KWD 11.5 MM Tender
KUWAIT – JANUARY 15: A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait. Kuwait produces 10% of the worlds oil and has promised to increase production as needed in the event of a war in Iraq. (Photo by Joe Raedle/Getty Images)

Al Imtiaz Investment Group’s subsidiary won a tender worth KWD 11.49 million, the company announced in a statement sent to Boursa Kuwait, as cited in Mubasher.

The five-year tender will cover the import of main and secondary heavy equipment for Kuwait Gulf Oil Company, Al Imtiaz clarified, noting that the tender works will be carried out in Wafra oil field in the neutral zone shared between Kuwait and Saudi Arabia.

Moreover, the subsidiary is expected to generate a profit margin ranging from 2% to 4% of the contract’s value.


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