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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