Mubasher: Arabi Group Holdings announced that its 73%-owned subsidiary, Arabi Enertech, was awarded a tender by Kuwait Oil Company (KOC).

The tender contract is worth KWD 11.9 million ($39.7 million), with a duration of 36 months, according to a bourse statement on Monday.

Arabi Group noted that the tender will generate a profit worth KWD 357,000 that will be registered in the income statements starting from the fourth quarter of 2018 until the end of 2021.