KUWAIT CITY, Sept 11: Kuwait Municipality recently opened the bidding envelopes for utilizing advertisement boards in the Capital Governorate, and then awarded the contract to the highest bidder – Midad Advertising Company which offered KD19.278 million with a difference exceeding KD10 million compared to the current contract, reports Al-Rai daily.

This is part of the Municipality’s plan to capitalize its revenue in a bid to reach the level of self-sufficiency as previously announced by its Director General Eng Ahmad Al-Manfouhi.

Sources revealed six companies submitted bids for the advertisement boards with the second company offering KD1.2 million less than the winning bid. Sources attributed the increase to merging the duration of the current contract with the new one to become five years valued at KD4.570 million, whereas the value of the current contract is KD 8.8 million for a period of three years; indicating the difference between the two contracts is KD10.453 million