Mubasher: Hot Engineering and Construction Co, a subsidiary of Al Imtiaz Investment Group, was awarded the lowest bids in a tender offered by Kuwait National Petroleum Company (KNPC).

The tender contract is worth KWD 21.98 million ($71.9 million), and will mature in five years, according to a bourse filing issued on Tuesday.

A profit ranging from 2% to 4% is expected to be realised from the value of the contract; however, this percentage may change.

At the stock level, Al Imtiaz ended Tuesday’s session 1.08% lower at 184 fils, after about 3.3 million shares were exchanged at a value of about KWD 616,900.