Tawasul
Mubasher TV
Contact Us Advertising   العربية

Integrated wins KWD 5m Qatari deal, inks KWD 7m contract with KOC

Integrated wins KWD 5m Qatari deal, inks KWD 7m contract with KOC
The deals' impact will reflect on the income statement as of Q2-20
INTEGRATED
INTEGRATED
-0.98% 405.00 -4.00

Mubasher: Integrated Logistics Qatar, a fully owned subsidiary of Integrated Holding Company, was awarded a contract by Qatar Petroleum (QP) to provide equipment services in Ras Laffan Port and other areas in Ras Laffan Industrial City.

The contract is valued at QAR 64.24 million (KWD 5.33 million) and will carry a maturity period of five years, according to a bourse statement on Sunday.

The deal, moreover, is set to be signed within one month from the announcement date, with the operational execution commencing as of April 2020.

Furthermore, the 100%-owned subsidiary, Integrated Logistics Co, signed a three-year deal worth KWD 4.69 million with Kuwait Oil Company (KOC) for renting heavy equipment and cranes, according to a separate bourse statement on Sunday. 

The operational execution of the contract will begin in June 2020.  

The financial impact of the two transactions is forecast to reflect on the income statement starting from the second quarter (Q2) of the fiscal year 2020.