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KCPC seals KWD11.5m contract with Equate

KCPC seals KWD11.5m contract with Equate
KCPC
KCPC
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Kuwait Company for Process Plant Construction and Contracting - KCPC announced that it has concluded a contract with Equate Petrochemical Co.


The new contract total value amounts to KWD11.499 million and its enforcement period is 610 days, said a bourse filing.


Under the agreement, KCPC will be the main contractor that is responsible for implementing the establishment of Equate's head office at Al Ahmadi city -Kuwait.


The new contract is likely to generate profit margin of 5% which is equivalent to KWD574.9 thousands from the projects total value.

 

The financial impact of the new deal will be reflected at the company's financial statements for 2015 and 2016.

 

Earlier, Mahmoud Hammad Chief Operations Officer of KCPC told Mubasher that the company looks forward to award new project in early 2015.