KOC signs KD 45 m contract

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Kuwait Oil Company (KOC) has concluded three soil treatment contracts worth KD 45 million ($161.9 million) with three international companies.

The three contracts, which last for three years each, will be put in force concurrently, KOC Chairman and Managing Director Sami Al-Rushaid was quoted as saying in a release by the KOC.

Under the contracts, the three companies will operate in line with conditions and terms set out by the KOC, he said. The companies’ operations will be restricted to soil treatment and rehabiliation in south and east Kuwait, he added.

The three companies are: Spain’s HERA (a contract worth KD 16 million), South Korea’s GS Engineering Construction Corporation (a contract valued at KD 18.5 million), and India’s TERI (a contract worth KD 10.9 million), the KOC chief pointed out.

More than 12 world comapnies had offered bids for the projects, but they were shortlisted to three, he said.

Source : Arab Times Daily



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