Mubasher: Arabi Group Holdings announced that its 73%-owned subsidiary Arabi Enertech was awarded the lowest bid in a tender issued by Kuwait Oil Company (KOC) for a total value of KWD 11.9 million ($39.4 million).

The project of this KOC tender will be executed over 36 months, according to a bourse filing on Sunday.

Winning the lowest bid in this tender was officially announced on Kuwait’s Central Agency for Public Tenders (CAPT) website.