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Supplementary Disclosur: A Subsidiary of Al Imtiaz awarded a tender

Date : 05-03-2020
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The Central Agency for Public Tenders announced the tender No.RE/236 awarded to one of the subsidiary owned by 50.69% Concerning the establishment, completion and maintenance of roads and services in the South Khaitan area, plot (1-2) for the Ministry of Public Works, at a value of 9,864,450 million Kuwaiti dinars for a period of 18 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 50.69% to be computed out of the net profit according to the estimated completion ratio

Disclosures