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FINANCIAL NEWS
KNPC to start work on USD40.15b projects
05 Jul 2011
(MENAFN) Kuwait National Petroleum Co.’s (KNPC) deputy managing director, Hatem Al Awadhi, stated that the company has plans for projects worth USD40.15 billion, reported Arab News.
Al Awadhi also said that the projects included the construction of a fifth gas production line in Kuwait for around USD1.146 billion.
The director added that the plans were also for KNPC to spend around USD31.3 on building a refinery, Kuwait’s fourth, as well as clean fuels projects worth an estimated USD16.7 billion.
It is worth noting that Kuwaiti Supreme Petroleum Council (SPC) earlier approved the fuel projects as well as the construction of the delayed Al Zour refinery.
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