Kuwait-listed Heavy Engineering Industries and Shipbuilding (HEISCO) has received board approval to acquire a 50% stake in Pure Works & Services Company for KD 7.3 million (USD 24 million).
Pure Works & Services specialises in the construction and maintenance of wastewater treatment plants, sewer networks and pumping stations – core infrastructure segments that are seeing increased investment across the GCC as governments accelerate utility development and water management upgrades.
The acquisition is expected to broaden HEISCO's service capabilities and strengthen its foothold in the utilities and infrastructure sectors, complementing its existing heavy engineering and shipbuilding operations. No completion timeline has been disclosed.
Gulf Economist Staff Writer