Bid­ders in­vited to man­age share dis­tri­bu­tion of Az-Zour North One

Kuwait Times - - LOCAL -

The Kuwait Au­thor­ity of Pub­licPri­vate Part­ner­ship Projects Au­thor­ity has in­vited bid­ders, banks and lo­cal fi­nan­cial firms, to present of­fers con­sul­ta­tive and fi­nan­cial ser­vices for man­ag­ing the dis­tri­bu­tion of the shares of the first Shamal Az-Zour Al-Oula (Az-Zour North One) on Kuwaiti cit­i­zens. The au­thor­ity said in a state­ment yes­ter­day that 50 per­cent of the Az-Zour North One shares will be of­fered to Kuwaitis in Ini­tial Pub­lic Of­fer­ing (IPO), with a nom­i­nal value of 100 fils for each share. Az-Zour North One, is the first gas-fired com­bined cy­cle power and wa­ter de­sali­na­tion plant in Kuwait, with a ca­pac­ity of min­i­mum 1,500 megawatts of elec­tric­ity and 102-107 mil­lion im­pe­rial gal­lons of wa­ter per day.

The gas-fired com­bined cy­cle power and wa­ter plant is the first phase of Az-Zour North In­de­pen­dent Wa­ter and Power Project (IWPP). A con­sor­tium GDF SUEZ and Su­mit­omo has been un­der­tak­ing the op­er­a­tion, and main­te­nance of Az-Zour North One on 50:50 ba­sis.

Ini­tial op­er­a­tion of the Az-Zour North One started on 7 May, 2015, af­ter 18 months of con­struc­tion, in­stal­la­tion and ex­am­i­na­tion, the au­thor­ity said. Com­mer­cial op­er­a­tion be­gan on 28 June 2015, as the plant started pro­vid­ing elec­tric­ity. Full com­mer­cial op­er­a­tion is due to kick off be­fore the end of this month. The win­ner con­sul­ta­tive body of the bid will be in charge of mak­ing sure that Az­Zour North One has ful­filled all guar­an­tees and doc­u­ments that all pro­ce­dures for com­mer­cial op­er­a­tion have been com­pleted in line with the min­istry and GDF SUEZ, the au­thor­ity state­ment added.

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