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

The tender contract is valued at KWD 27.84 million ($92.2 million), according to a bourse statement on Monday.

Arabi Group noted that the tender covers a project that will be accomplished in 24 months.

The Boursa Kuwait-listed company will achieve profits worth KWD 853,000 that will reflect on the group’s financial statements starting from the fourth quarter of fiscal year 2018 until the end of 2020.