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FINANCIAL NEWS
Kuwait awards $142m contract to Daewoo
29 Jun 2010
(MENAFN) Kuwait Oil Tanker Company (KOTC) said that it has signed a $142 million contract with South Korea’s Daewoo Shipbuilding and Marine Engineering Co. to build two vessels for petroleum products, Reuters reported.
The state-owned company said that each of the tankers has a designed storage capacity of 110,000 tons and would be delivered in 2012.
KOTC’s Managing Director Nabil Bouresli said Daewoo had also won a separate tender earlier to build four tankers with a total capacity of 318,000 tons.
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