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FINANCIAL NEWS
Kuwait Oil signs $16m deal with SHIP
02 Dec 2010
(MENAFN) Kuwait Oil Company (KOC) and the Heavy Engineering And Ship Building Company (SHIP) announced that they have signed a contracting deal worth $16 million, Kuwait Times reported.
A statement released by the two companies indicated that the contract was signed to build a pumping station as well as gas and oil pipelines from Ahmadi seaport to Zoar and Shuaibah seaports with an estimated 709 days for project completion.
SHIP was established in 1974, joined KSE in 1984 with a capital of $ 57 million. The company focuses its operations on building and repairing ships, cleaning water paths, and seaport maintenance.
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