ZAWYA-PROJECTS: CGCC awarded $252mln flowlines construction contract for KOC

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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 meetingThe 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)([email protected])Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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