Staff Writer
(Contract value corrected from $251 million to $252 million)
Kuwait’s Central Agency for Public Tenders (CAPT) has approved the award of a contract to Combined Group Contracting Company (CGCC) for the construction of flowlines and associated works for Kuwait Oil Company (KOC).
The contract, known as the Fourth West Kuwait Contract under Tender No. RFP-2141028, is valued at 77.34 million Kuwaiti dinars ($252 million), according to stock exchange disclosure by CGCC.
The project covers the construction of flowlines and related oilfield infrastructure works in West Kuwait. The execution period is 60 months.
CGCC said it was awarded the contract despite being the fourth lowest bidder following a CAPT board meeting
The company stated that operating profits from the contract are expected to be reflected in its financial statements over the project implementation period.
(Writing by Deva Palanisamy; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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