Heavy Engineering Industries and Shipbuilding Company (HEISCO) signed a contracting agreement with Kuwait Oil Company (KOC) for KWD 11.7 million ($38.6 million).

The contract duration is 20 months as of 10 May, 2015, according to a bourse statement.

Shipbuilding noted that the financial impact of such deal is a profit ranging between 4.5% and 6.5%.