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CGC's unit wins AED 195m tender for project in UAE

CGC's unit wins AED 195m tender for project in UAE
The company will achieve operating profits from the contract
CGC
CGC
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Mubasher: A subsidiary of Combined Group Contracting (CGC) has won a tender to develop and raise the efficiency of Sharjah E88 federal road in the UAE at a total value of AED 194.8 million (KWD 15.965 million).

The project will take 730 days to be accomplished, according to a bourse filing on Monday.

The company will achieve operating profits from the contract, which will be registered in its financials in the upcoming years.

It is noteworthy to mention that during the first quarter (Q1) of 2021, CGC has turned into profitability to record around KWD 659,180, against net losses of KWD 3.42 million in the same quarter of 2020.