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A subsidiary of Al-Imtiaz Awarded a contract

Date : 28-07-2019
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A subsidiary of Al Imtiaz, owned at 50.69% by the Group was awarded the lowest bid for  tender No. H.T 236 for the construction, maintenance and  completion of roads and services in South Khaitan area, blocks 1&2 belonging to the Ministry of Public Works, valued at KD 9,864,450 for the duration of 18 months.

The subsidiary company is expected to realize a profit margin of 2% - 4% of the contract value. It should be not that the said profit margin is an estimation and non-fixed rate, as it could fluctuate up and down according to project progress, the implementation period, the percentage of completion and the actual results realized after the full execution of the project. The profit share of Al Imtiaz Investment Group shall be 50.69% computed out of the net profit according to the estimated completion rate.