Mubasher: Combined Group Contracting (CGC) said that its UAE subsidiary, Combined Group Contracting Emirates, has been awarded a tender contract for the construction of internal roads in Al Farfar, Fujairah.
The 240-day contract is valued at AED 23.33 million (KWD 1.93 million), according to a bourse statement on Wednesday.
In September, the parent company noted that the deal is forecast to generate operating profits that will reflect on the financial statements in the coming years.
It is worth noting that over the third quarter of 2019, Combined Group saw a 56.7% year-on-year decrease in profits to KWD 245,500 ($838,640) from KWD 586,000 ($1.94 million) in Q3-18.
