Mubasher: Gulf Cable and Electrical Industries Co – Jordan, a 94.5%-owned subsidiary of the Kuwaiti company Gulf Cable and Electrical Industries, was awarded a tender offered by Jordan Electric Power Co.

The tender contract is valued at KWD 2.77 million ($6.3 million), according to a bourse statement on Thursday.

Gulf Cable expects an operating profit accounting for 1.5% of the contract’s value; this financial impact will be registered in the income statements of the second, third, and fourth quarters of 2018.

At the stock level, Gulf Cable closed Thursday’s session at 420 fils at Boursa Kuwait.