Deals for $16bn Al Zour Kuwait to be inked today
The 615,000bpd refinery's commissioning is expected to start in November 2019
Kuwait's National Petroleum Company (KNPC) plans to sign the main contracts awarded to companies to build the Al Zour oil refinery today, 13 October, 2015.
Construction of the 615,000 barrel per day (bpd) refinery is expected to boost Kuwait's economy, which has slowed due to political tensions and low oil prices.
"This is an important milestone," CEO of KNPC Mohammed al-Mutairi told Reuters.
Mutairi said commissioning of the refinery was expected to start in November 2019.
The project cost amounts to $15.9bn (KWD4.8bn).
KNPC will notseek external funding for the project.