Kuwait – Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has signed a contract in favor of Kuwait National Petroleum Company (KNPC) regarding Mina Abdullah Refinery.

The contract has a value of KWD 1.79 million ($5.9 million), with duration period of 63 months, according to a bourse statement issued Monday.

The financial impact from signing this deal is operating profits that will be registered in the company’s financial statements for the fiscal years 2017 and 2018, HEISCO clarified.

On the stock level, HEISCO fell by 2.53% to 154 fils on Monday after about 9,700 shares were traded with a value of nearly KWD 1,500.