Contract No. CB/ CBD/ 2015 was signed with a 50.69% owned subsidiary of Al Imtiaz Investment Group, for supply and execution of mechanical, civil, electrical works and related instruments at Mina Abdullah Refinery for KD2,979,894.500 over five year period.
The subsidiary company is expected to realize a profit margin of 2% - 4% of the contract value. I should be noted that the said profit margin is estimation and non-fixed rate, as it could change up and down based of the project progress, the period of implementation, the percentage of completion, and the actual results achieved after the full execution of the project. Al Imtiaz Investment Group shall be entitled to a profit of 50.69% which shall be computed out of the net profit according to the estimated completion percentage.