Kuwait-Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has signed a deal with a main contractor in favor of Kuwait National Petroleum Company (KNPC), according to a bourse statement issued Monday.

The contract is worth KWD 49.72 million ($164.4 million), with duration of 29 months.

HEISCO noted that the financial impact from this deal will be operating profits which will be registered in the financial statements of 2016, 2017, and 2018.