PROJECTS: Chinese-Kuwaiti JV wins $185mln contract from KOC

PROJECTS: Chinese-Kuwaiti JV wins $185mln contract from KOC

OPEC member Kuwait has awarded a contract to a Chinese company and its local agent involving drilling and treatment work with a value of around $185 million, the local firm said on Thursday. The Central Agency for Public Tenders awarded the project in South Kuwait to Hangzhou Zaopinst Co., Ltd, which is specialized in environment protection, and Kuwait's (Heisco). In a statement on Kuwait's stock market, Heisco said the project in "Zone 2" in South Kuwait covers "drilling, transportation and treatment" and that it would be completed within 52 months. The project belongs to state-owned (KOC), which manages the Gulf state's upstream hydrocarbon sector. The statement did not provide further project details, but had said that it intends to carry out oil pollution clean-up operations in South Kuwait. (Writing by Nadim Kawach; Editing by Anoop Menon) ( ) This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. .