Latest news with #Heisco
Zawya
20 hours ago
- Business
- Zawya
Kuwait-listed Heisco borrows $66mln for new projects
Kuwait's heavy engineering industries and shipbuilding company (Heisco) has borrowed 20 million Kuwaiti dinars ($66 million) to fund fresh projects. Heisco said in a bourse statement on Tuesday that the new loan was an extension of a credit agreement it had signed with a Kuwait bank. 'Our company has renewed the credit facilities agreement with one of the local banks for a limit of KWD 20 million to finance the company's activities,' Heisco said. 'The financial impact cannot be determined now and the amounts to be utilised will gradually reflect on the financial statements over subsequent periods from the value of the banking facilities,' it added. In June, Heisco announced that has signed credit facilities agreement for KWD57 million ($188 million) to fund expansion plans. (Writing by Nadim Kawach; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
6 days ago
- Business
- Zawya
Kuwait-Indian consortium makes lowest bid for $377mln desalination project
A Kuwaiti-Indian consortium has made the lowest bid for a major desalination project in the OPEC member with a value of around 114.3 million Kuwaiti dinars ($377 million), the Kuwaiti firm said on Thursday. The heavy engineering industries and ship-building company (Heisco) said it has formed a joint venture with VA Tech Wabag for the project in the seaside district of Doha on the western coast of the capital Kuwait City. In a disclosure bourse statement in Kuwait, Heisco said: "our joint venture with VA Tech Wabag has achieved the lowest bid for the tender - Supply & Erection with O&M Services of Doha SWRO Desalination Plant with Re-carbonation System (Stage-2) -for the Ministry of Electricity & Water & Renewable Energy. It said the duration of the contract is 96 months. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
29-07-2025
- Business
- Zawya
Kuwait's Heisco wins pipeline deal in Neutral Zone
A Kuwaiti company has won a contract for the replacement of a subsea crude pipeline in the oil-rich Neutral Zone shared by Gulf OPEC members Kuwait and Saudi Arabia. The contract has a value of around 19.8 million Kuwaiti dinars ($65 million) and involves work for 'subsea pipeline replacement,' the heavy engineering industries and shipbuilding company 'Heisco' said in a bourse statement on Monday. The deal was awarded by Al-Kafji Joint Operations, which manages oil and gas production in onshore and offshore areas in the oil-rich Zone. 'Our company has received a letter of award from the Joint Operations for the project subsea pipeline replacement,' Heisco said without providing project details. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
30-06-2025
- Business
- Zawya
Kuwait's Heisco signs $186mln credit facility with local banks
Kuwait's Heavy Engineering Industries & Shipbuilding Co. (Heisco) has signed a credit facilities agreement with a local bank for up to 57 million dinars ($186 million) to finance its business. The terms of the deal were not disclosed. (Writing by Brinda Darasha; editing by Daniel Luiz)
Trade Arabia
08-06-2025
- Business
- Trade Arabia
Heisco lands key Kuwait Oil Company contract
Heavy Engineering Industries & Shipbuilding Company (Heisco) has announced that it has secured a new contract worth KD13.8 million ($45 million) from Kuwait Oil Company (KOC). A major EPC contracting company based in Kuwait, Heisco caters to a diversified range of business in oil and gas, petrochemicals, power, pressure equipment manufacturing, shipbuilding and repair, dredging and marine construction. On the contact win, Heisco said under this it will be providing repair and revamping services for KOC's production facilities in North Kuwait areas. The entire work will be completed within a five-year period, it added.- TradeArabia News Service
