KNPC Awards Private Sector 20 pct. of Project Investments

Source: KUNA 1/15/2014, Location: Middle East

Up to 20 percent of investments in KNPC's clean fuel project and a new refinery will be awarded to the Kuwaiti private sector, said KNPC's CEO Muhammad Al-Mutairi.

Investment in both the fuel and refinery projects is estimated at USD 30 billion, he said, noting that tenders for the clean fuel project have been received and are currently being studied by KNPC officials. As for the new refinery, he said basic infrastructure for it has gotten off the ground and is expected for completion toward the end of 2017.

He said that the company's fourth gas pipeline was almost ready for use, adding that ten new gas storage reservoirs are being constructed as are four new gas stations for the benefit of motorists. Al-Mutairi expressed pride that KNPC's Al-Shuaiba refinery was selected as the best-managed Kuwaiti enterprise for 2013 thus meriting an award by His Highness the Amir.

The KNPC executive emphasized that the company paid serious attention to employing Kuwaiti citizens in its multitude of operations and for the third year in a row took first place in donating blood to the nation's blood drives and has collected up till now donations of KD 40,000 from its employees for the benefit of Syrian refugees.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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