Kuwait - based Equipment Holding Co. said a subsidiary has been awarded a tender worth of KWD 3.2 million ($10.7 million) from Kuwait's ministry of education.

Under the agreement, Al Khadda International General Trading, 99%-owned by Equipment, will carry out the construction works of number of building at Hawally Educational area building project.

Equipment said it expects a profit margin of 5% equivalent to KWD 160 thousands from the tender total value.

Equipment is capitalised at KWD 16.6 million, divided into 136 million shares at KWD 100 fils par value each.