Built to inform

Sign up for the daily newsletters

No, Thank you

Construction key part of KNPC's $12bn five-year spend

Kuwait National Petroleum Company is currently working on construction and renovation projects worth more than $2bn, CEO Mohammad Al-Mutiari reportedly revealed

KNPC's spend for the next five years is estimated to be worth $12bn [representational image].
KNPC's spend for the next five years is estimated to be worth $12bn [representational image].

Kuwait National Petroleum Company's (KNPC) expenditure for the next five years is expected to be worth $11.6bn (KWD3.5bn), of which a significant amount will be devoted to construction programmes. 

KNPC's chief executive officer, Mohammad Al-Mutiari, said the firm's total capital for the 2017-18 fiscal year is set at $20bn (KWD5.1bn). 

READ: Kuwait awards $4.6bn infrastructure contracts

A gas line project with production capacity of 805 million ft3, worth $1.4bn (KWD428m), is currently being developed by the company. 

In addition, liquid sulfur treatment facilities, worth $696m (KWD210m), are being constructed at KNPC's Al Ahmadi refinery, with work to upgrade its storage equipment also underway. 

Renovation work worth $250m (KWD75.6m) is being carried out at a warehouse in Al Ahmadi area. 

KNPC will also build a new facility in Al Metla'a. 

According to state agency KUNA, citing Al Rai, KNPC will develop 100 fuel stations "to ensure adequate power supply" in the country. 

Al-Mutiari added that KNPC's Al Shuaiba refinery is also up for sale, following the completion of procedural works.  

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019