Mubasher: Kuwait Portland Cement has signed a contract with Kuwait Supply Co on Tuesday for a total value of KWD 56.5 million ($188.7 million).

The value of the contract can increase or decrease within a range of 10%, according to a bourse statement on Tuesday.

Kuwait Portland clarified that it is an open contract and will end in line with the delivery of the last supply interval.

The contract will have a positive impact on the income statements of Kuwait Portland.

Earlier on Tuesday, Kuwait Portland noted that it was not informed by Kuwait Supply Co. by the approval for the proposed offer.