Kuwait ready to splurge $12 billion on upgrading its refiniries
Kuwait has approved bids worth a total of $12 billion for major upgrades at two oil refineries, the state-run oil company said, in a sign it is moving ahead with large infrastructure projects.
The Clean Fuels Project is a specification upgrade and expansion of Kuwait’s largest refineries as part of the Gulf state’s economic development plan, which has faced delays partly due to political instability.
A consortium led by Japan’s JGC Corp won a tender for work worth 1.361 billion dinars ($4.82 billion) at the 460,000-barrels-per-day (bpd) Mina Ahmadi refinery, a Kuwait National Petroleum Company spokesman said, citing a decision from the country’s central tenders committee.
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