Gulf Construction & General Contracting Company, a subsidiary of Heavy Engineering Industries and Shipbuilding Company (HEISCO), has recently been issued Variation Order No. (1) for Contract No. CPF/CPC/0069. This variation pertains to the repair and consolidation project for Shuaiba oil berth. The value of this variation order is KWD 1,088,293.050. This order was issued by National Petroleum Company, and the project is set to span over a duration of 18 months.
This development was officially communicated by HEISCO through a statement released today to Boursa Kuwait. It has been emphasized that the outcome of this operation will yield operational profits, which will be incorporated into the company's financial reports spanning the financial years 2023 and 2024.