Saipem awarded $1.57bn Kuwait Al Zour contract
Saipem consortium's was the lowest bid on the tender for the 45-month contract, Kuwait National Petroleum Co official said
Kuwait has awarded a $1.57bn contract for work on its planned Al Zour oil refinery to a consortium made up of Italy's Saipem and another firm, state news agency KUNA reported on Wednesday, 12 August, 2015.
Saipem's 45-month contract was the lowest offer submitted in the tender, Khalid al-Asousi, spokesman of state-run Kuwait National Petroleum Co (KNPC) said in a statement, according to KUNA.
Reuters reported that KNPC awarded $11.5bn in contracts last month to build the planned 615,000 barrel-per-day refinery.
That included a $1.5bn contract for a consortium comprising Saipem, Hyundai Engineering and Construction , and SK Engineering and Construction to build a marine export terminal.
The signing of all contracts is expected to take place in early October, Asousi said.