Mubasher: Specialities Group Holding said that its 99%-owned subsidiary, Specialized Construction General Trading and Contracting Co, has signed a tender contract with the Kuwait Ports Authority for KWD 5.41 million.

The subsidiary is expected to achieve a profit margin ranging from 6% to 8% of the contract’s value, Specialities Group said on Monday, noting that this percentage is an estimate.

The project’s duration is estimated to last for 36 months; however, the company has not yet received the order to start the project.

Specialized Construction was awarded this tender in mid-June, while in mid-July, the Kuwait Ports Authority has agreed to renew a contract with the subsidiary for a value of nearly KWD 746,400.

At the stock level, Specialities Group started Monday’s session 2.09% higher at 88 fils.