The value of projects awarded by the Kuwaiti government to companies listed on the bourse plunged by nearly 38 pct in the first nine months of 2024, official figures have shown.
From around USD 4.29 bln in the first nine months of 2023, the value of the awarded contracts dipped to nearly USD 2.72 bln in the same period of 2024, showed the figures published by Alanba newspaper.
One of the largest contracts this year was awarded to the Heavy Engineering Industries and Shipbuilding Company (Sofon) with a value of USD 450.8 mln for the installation of steam turbines at Al-Zour power plant, the report said.
The Finance Ministry report showed the Combined Group Contracting Company emerged as the biggest beneficiary of contracts in 2024, grabbing 12 projects with a total value of around USD 937 mln, nearly 35 pct of the total contracts awarded in the first nine months of 2024.
