Al Salam Group Holding announced that its subsidiary was awarded a tender valued at KWD 7.83 million ($25.8 million), according to a bourse statement on Wednesday.
The 51%-owned unit Al Sari National General Trading and Contracting won the tender for a duration of five years.
A return of 10% is expected to be realised from this tender, Al Salam said, noting that the tender contract has not been signed yet.
It is noteworthy that Al Salam is listed on both Boursa Kuwait and the Dubai Financial Market (DFM).
At the stock level, Al Salam closed Wednesday’s session at 32 fils in Boursa Kuwait, while the stock did not register any trading activity in the DFM.