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FINANCIAL NEWS
Kuwait awards USD1.57b refinery contract to Saipem
13 Aug 2015
(MENAFN) Kuwait has awarded a new USD1.57 billion contract for work on its planned Al-Zour oil refinery to a consortium joining Italy’s Saipem and another firm.
The 45-month contract was the lowest offer submitted in the tender, spokesman of state-run Kuwait National Petroleum Co. (KNPC) said in a statement, according to KUNA.
Last month, the Kuwaiti oil company awarded a total of USD11.5 billion in contracts to build the planned 615,000 barrel-per-day refinery.
That included a USD1.49 billion contract for a consortium comprising Saipem, Hyundai Engineering and Construction, and SK Engineering and Construction to build a marine export terminal.
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