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FINANCIAL NEWS
France’s GDF Suez awarded Kuwait power plant contract
09 Jan 2013
(MENAFN) GDF Suez Energy Middle East, Turkey & Africa, CEO and president, Shankar Krishnamoorthy, stated that the Paris-based firm has been granted a Kuwaiti contract for the establishment of a new power plant in the Gulf country, reported Arabian Business.
Krishnamoorthy said that the company is part of a consortium that comprises Japan’s Sumitomo Corporation and Kuwait’s Abdullah Hamad Al Sagar & Brothers.
Kuwait’s Partnerships Technical Bureau (PTB) is the party that awarded the contract for the Al Zour North Independent Water & Power Project.
The country issued the tender for construction of the Al-Zour North power plant in March 2011, with an estimated cost of USD2.7 billion.
He added that the capacity of the plant, which is projected to begin commercial operation in 2015, will make up nearly 12 percent of the emirate’s installed generation capacity and almost 23 percent of its installed desalination capacity.
It is worth noting that Kuwait’s Ministry of Electricity and Water will buy the plant’s production under a 40-year long-term Energy Conversion and Water Purchase Agreement (ECWPA).
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