KUWAIT —Heavy Engineering Industries & Shipbuilding Co. KSC Public (HEISCO) announced that its subsidiary, Gulf Dredging & General Contracting Co. KSC Closed, has officially signed a contract valued at KD 5.73 million (Kuwaiti Dinar Five Million Seven Hundred Twenty-Seven Thousand Three Hundred) for the Sharq Waterfront Development Project - Third Stage.
Under the terms of the agreement, the scope of work encompasses the design, permitting, construction, testing, commissioning, and handover of the harbor and marine works for the project located at Sharq Waterfront in Kuwait. The project execution is scheduled for completion within a total duration of 16 months.
HEISCO is a major Kuwaiti public shareholding company specializing in heavy engineering, shipbuilding, industrial construction, and maintenance services across energy and marine sectors. Its subsidiary, Gulf Dredging & General Contracting Co., is a specialized contractor experienced in capital dredging, land reclamation, soil improvement, and complex marine engineering infrastructure works across the Arabian Gulf region.
The formal agreement follows a previous letter of award notification issued on July 15, 2026. The contract securing this development represents a significant step forward in modernizing Kuwait's commercial coastal infrastructure, delivering dedicated marine facilities to support marine transport, commercial activities, and urban waterfront expansion.
The contract wins bolster HEISCO's order backlog and reinforce Gulf Dredging's competitive positioning in marine construction and offshore infrastructure. Financially, the project's operational revenues are expected to be recognized within the company's annual financial statements across the 2026 and 2027 fiscal years, providing sustained revenue visibility.
