Mushrif Trading & Contracting achieved revenues of $165.5m (KWD50m) in 2015, 2.1% of which was profit. Encouragingly, chief executive officer Chris Preece expects to almost double this figure to $324.5m (KWD98m) this year.
The Kuwait-based contractor has also enjoyed impressive growth from a staffing perspective. Since 2013, the size of Preece’s team has increased by almost 40%. Today, Mushrif employs 2,286 people, 161 of whom are qualified engineers. Moreover, during the coming year, the firm expects to grow these figures to 3,500 and 200, respectively.
Over the past 12 months, the contractor has completed two major projects in its domestic market: flowline replacement and general operational support for Kuwait Gulf Oil Company and Saudi Arabia Texaco’s joint operations; and construction and maintenance of a water network and tanks for C1 treated water on behalf of Kuwait’s Ministry of Public Works (MPW).
In June 2016, Mushrif is due to fulfil its contract for the desgin, construction, completion, and maintenance of temporary elevated U-turns at Nuwaiseeb Highway, also on behalf of MPW.
Commenting on his team’s current bidding strategy, Preece told Construction Week: “Mushrif is actively pursuing sub-contract opportunities with engineering, procurement, and construction (EPC) contractors in the oil and gas sector – in particular the Al Zour New Refinery Project (NRP) and the Clean Fuel Projects (CFP).”