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FINANCIAL NEWS
Kuwait’s KNPC eyes USD10b fund for expansion plans
01 May 2015
(MENAFN) Kuwait National Petroleum Co (KNPC), a state run refining plant, is eying USD10 billion fund for an expansion plan for its refineries, five sources said, Reuters reported.
The loan is set to last from seven to ten years, the sources said, adding that it is one of the major USD99.6 billion Kuwaiti economic development plan.
Dubbed the Clean Fuels Project is all about upgrading two large refineries to prompt producing higher-value products such as diesel and kerosene for export.
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