FINANCIAL NEWS

Kuwait’s KNPC to build $406m plant

07 Sep 2010

(MENAFN) Kuwait’s national refinery firm KNPC signed a $406 million deal with Italy’s Tecnimont to build an acid-gas removal plant in the Gulf state, KUNA reported.

A statement issued by the company said that the project, to be established at the oil-rich state’s Al-Ahmadi refinery, will be executed on a lump-sum turnkey contract basis and is slated for completion in 2014.

The contract foresees the provision of engineering, procurement, construction and commissioning (EPCC) services for a brand new process train of gas handling and sweetening, KNPC said.

The new project will be in line with KNPC environmental standards and will contribute to reducing emissions by producing clean fuels, it added.

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