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Knowledge Marine & Engineering Works’ arm gets LOI from Eastern Asphalt & Mixed Concrete

25 Aug 2023 Evaluate

Knowledge Marine & Engineering Works’ subsidiary -- Knowledge Dredging has received a Letter of Intent (LOI) from Eastern Asphalt & Mixed Concrete for the supply of dredged marine sand in Bahrain. This notable contract carries a substantial value of 1.87 Million Bahrani Dinar (approximately equivalent to Rs 41.51 crore, using an exchange rate of 1 BD = Rs 221.40) and spans a tenure of 5 years. Set to commence during the third quarter of the fiscal year 2023-2024.

This will be company’s fifth LOI in line for supply of dredged marine sand in Bahrain. By successfully securing five contracts for the supply of dredged marine sand, the company has generated a cumulative LOI value of approximately Rs 383 crore for the next five years. This achievement serves as a testament to the robust demand within the Bahraini economy, driven by a notable upswing in both real estate activities and associated infrastructure development.

Knowledge Marine & Engineering Works is engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure.

Knowledge Marine & E Share Price

1965.60 41.05 (2.13%)
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