Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) has signed a tender contract worth KWD 20.75 million ($69.5 million) with the electricity and water ministry, according to a bourse statement on Monday.

A week ago, HEISCO noted that the company was awarded a five-year contract regarding works at Al Zour Refinery.

Operating profits from this contract are expected to be registered in the income statements for the years 2018 until 2023.

On Monday, HEISCO’s stock started the session 0.5% higher at 203 fils by 9:25 am Kuwait time.