Mubasher: Arabi Group Holdings announced that its subsidiary Arabi Enertech was awarded the lowest bids in a tender offered by Kuwait Oil Company (KOC).

The tender contract is valued at KWD 27.84 million, according to a bourse statement on Monday.

Arabi Group said that the 24-month tender will cover the process of renovating and developing the gas network across East Kuwait.

At the stock level, Arabi Group closed Monday’s session 5% higher at 84 fils.