The Central Agency for Public Tenders announced that a subsidiary of Al Imtiaz, owned at 50.69% by the Group, was awarded the lowest tender bid contract No. 1/2017/2018, for the construction, completion and maintenance of (4) main fresh water lines in the south Mutla’a residential city for the Ministry of Electricity and Water, The contract value is KD 17,621,000 (Kuwaiti Dinar seventeen million six hundred and twenty-one thousand) for a period of 30 months.
The subsidiary company is expected to realize a profit margin of 2% - 4% of the contract value. It should be noted that the profit margin is estimated and non-fixed rate, and may fluctuate up and down based on the project progress, the execution period, the completion ratio and the actual results achieved after the project's full execution. The profit share of Al Imtiaz Investment Group is 50.6% to be computed out of the net profit according to the estimated completion ratio