A subsidiary of "Seven" signs a tender contract for "Saudi Aramco"

SAUDI ARAMCO

SAUDI ARAMCO

2222.SA

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Kuwait – Mubasher: Heavy Engineering Industries and Shipbuilding Company (HEIC) announced that its subsidiary has signed a tender contract with the Engineering Company for Petroleum and Chemical Industries (ENPPI, Saudi Arabia branch) worth SAR 257.5 million (KWD 21.18 million), according to a statement issued by Boursa Kuwait on Monday.

"Seven" clarified that the tender relates to a project to remove obstacles at production facilities in the Abfiq area, to implement the civil and mechanical construction package for Saudi Aramco for a period of 865 days.

The company stated that the financial impact of the contract will be operating profits that will be included in the company's financial statements from 2025 to 2026.

It is noteworthy that "Seven" announced on January 9, 2025, that a subsidiary in the Kingdom of Saudi Arabia had received a notification to directly contract for this tender.

Seven achieved a profit of KWD 9.07 million during the previous year , an increase of 27.61% compared to its level of KWD 7.11 million in 2023.

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