ShareKUWAIT: Heavy Engineering Industries and Shipbuilding Company KSC (Public) (HEISCO) celebrated its Golden Jubilee at the Grand Hyatt 360 Hotel under the patronage of His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister of Kuwait, and in the presence of Khalifa Dhahi Al-Ajeel Al-Askar, Minister of Commerce and Industry.
The ceremony commenced with a recitation of verses from the Holy Quran, followed by the playing of the Kuwaiti national anthem. The event was opened by Marzouq Nasser Al-Kharafi, Chairman of the Board of Directors of the company, who expressed his gratitude to all attendees. In his speech, Al-Kharafi highlighted that since its establishment in 1974, the company has continuously worked diligently, growing and developing.
Over the past fifty years, the company has achieved numerous milestones, leaving its mark in various fields, such as shipbuilding and repair, engineering and construction contracts, and specialized projects in mechanical maintenance for oil and gas refineries, as well as civil and marine construction contracts. Al-Kharafi added that the company was listed on the Kuwait Stock Exchange in 1984, and its market value has since grown to approximately KD 140 million.
In 2023, the company was upgraded to the Premier Market, reflecting the confidence of its shareholders. Al-Kharafi emphasized that the company continues to work with determination, cooperation, and teamwork to maintain its path of success and excellence, improving working conditions to support and encourage national labor and promote ethical values and social responsibility. He also highlighted the company’s recent major achievements, such as:
Establishing a branch in the Kingdom of Saudi Arabia.
Establishing a subsidiary in Chennai, India.
• Expanding and upgrading industrial maintenance workshops with the most advanced equipment, making them the most developed in the Middle East.
• Signing exclusive contracts with various government entities for ship and marine equipment maintenance, replacing previous contracts with foreign companies.
• Increasing the volume of maintenance projects for power plants and water desalination stations.
Al-Kharafi took the opportunity to extend his sincere thanks and appreciation to the company’s shareholders for their trust. He expressed his deep gratitude to everyone who contributed to building this national edifice, including the founders, employees, and strategic partners.
Al-Kharafi also expressed his pride that the company and its group are an integral part of the beloved nation, striving to realize Kuwait’s Vision 2035 under the leadership of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, may God protect him, and His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, may God protect him, towards achieving development and prosperity for the nation.
The ceremony concluded with a commemorative gift presented to His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, which was received on his behalf by Khalifa Dhahi Al-Ajeel Al-Askar, Minister of Commerce and Industry. As a token of deep appreciation for his attendance, a commemorative gift was also presented to the Minister of Commerce and Industry. Finally, a special recognition was awarded to Mousa Jafar Marafie, the first Chairman of the Board, who played a significant role in the company’s leadership and development.
