Heavy Engineering Industries and Shipbuilding - HEISCO said its 99.92%-owned subsidiary Gulf Dredging and General Contracting Co was awarded a three- year contract, amounting to KWD2.47 million by the state of Kuwait - Ministry of Electricity & Water.HEISCO stated in a statement to Kuwait's bourse, that the new contract is likely to generate operating profits of around 8% to 10% from the scheme value.
Last September, HEISCO announced it has secured five - year contract amounting to $ 47.7 million from American army to carry out maintenance to the U.S. Army Vessels Stationed at Muhammad al-Ahmad Naval Base.
HEISCO is a major Engineering, Procurement and Construction (EPC) Contracting company based in Kuwait with a diversified range of business in Oil and Gas,Petrochemicals, Power, Pressure Equipment Manufacturing, Shipbuilding and Repair, Dredging & Marine Construction, Major Civil Construction, Maintenance and other industrial services including Heavy Industry projects.
Established in 1974 to initially meet the demands of the shipping and maritime industry in the Northern Arabian Gulf, HEISCO has since expanded its operations to meet the challenges of emerging markets. Today, in addition to remaining market leaders in the marine industry, it's also recognized as one of the leading industrial companies in Kuwait, having made a major contribution to the development of the country's commercial and industrial infrastructure through successfully completed projects in virtually every economic sector.
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