Latest News
- No Transactions Without Biometrics
- Passenger Caught With Pure Cocaine From Europe
- The Elderly Man Was Not Insulted By Me
- 97% Of MEW Workforce Are Kuwaitis; Strength 34,417
- Rushing Home For 'iftar' Causes Accidents And Deaths
- Expect Hot Days, Cool Nights, And Thunderstorms In Kuwait
- Health Procedures For Expatriates Updated
- Kuwait's Agility Global Seeks Inclusion On Abu Dhabi's ADX
- Public Authority For Industry Completes Industry Law Amendment P...
- Indian Ambassador Hosts Ramadan Celebration In Kuwait
- Al-Mashaan Grants Authority For Transfers Of Municipal Departmen...
- For The Expansion Of The Subiya Site, 204.178 Million Dinars And...
1.7bn Dollars Power Project Set To Launch Full Ops In November
The construction teams of Shamal Azzour Al-Oula, Hyundai Heavy Industries and Societe Internationale De Dessalement have commissioned the final power generation unit for Kuwait's first independently owned power and water facility.
Construction of the $1.7 billion Azzour North One, phase one of the country’s IWPP project, is expected to start full commercial operation by the end of November, a statement said.
Shamal Azzour CEO Andy Biffen said: “Team members from all companies involved in the project are very proud of their achievements. While this is a very modern and complicated facility, the project has progressed without delays, overspend or technical difficulties, reflecting the skills, efficient organization and expertise of all those involved.”
When fully operational, the project will represent 10 percent of Kuwait power peak capacity (1,539MW) and 20 percent of water generation (107 million gallons per days), the statement said.
It added that the project will be fueled from a blend of local gas and imported LNG.
Shamal Azzour Al-Oula is 40 percent owned by a private consortium comprising ENGIE (formerly GDF SUEZ), Sumitomo Corporation, and AH Al Sagar & Brothers.
The remaining 60 percent is owned by the Government of Kuwait, which is mandated to sell 50 percent of the total ownership through an IPO to Kuwaiti citizens after construction is completed. The government will retain a 10 percent stake following the IPO.
SOURCE : ARABIANBUSINESS
Trending News
-
MoI Urges Biometric Fingerprinting Compliance Ahea...
21 March 2024
-
5 Days Holiday For Eid Al-Fitr Begins On April 9th
25 March 2024
-
Over 120,000 Expat Offenders Will Benefit From Kuw...
14 March 2024
-
Kuwait Offering Amnesty To Illegal Expats
17 March 2024
-
From April 1 To July 1, Kuwait Grants Amnesty To V...
14 March 2024
-
Kuwaiti Banks Elevate Non-Resident Credit To 4.17...
18 March 2024
-
Central Bank Of Kuwait Provides Banks With New Ba...
20 March 2024
-
Kuwait's Clean Energy Journey: Progress And Challe...
23 March 2024
-
Banks In Kuwait Report Robust Profits Despite The...
21 March 2024
-
Driving Licenses With Smart Technology
25 March 2024
Comments Post Comment