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Metal and Recycling inks $9.5m contract with health ministry

Metal and Recycling inks $9.5m contract with health ministry
The deal’s financial impact cannot be determined now
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Mubasher: Metal and Recycling has signed a KWD 2.88 million ($9.49 million) bid licence contract with the Kuwaiti Ministry of Health.

Under the 10-year contract, the Boursa Kuwait-listed company will undertake the establishment, maintenance, supply, operation, and management of a plant for the treatment of clinical waste, according to a bourse statement released on Wednesday.

The financial impact of the deal on the company’s statements cannot be determined for the time being, the company noted.

Metal and Recycling suffered a loss of KWD 324,000 ($1.07 million) during the fourth quarter of 2018 against profits worth nearly KWD 72,080 ($237,500) in the corresponding period a year ago.