Kuwait to float Zour North One in mid-2017

Kuwait Times - - FRONT PAGE -

Kuwait plans to sell shares in the Al-Zour North In­de­pen­dent Wa­ter and Power Project to the public in mid2017, state news agency KUNA re­ported yes­ter­day. The Al-Zour North One plant has a ca­pac­ity of at least 1,500 MW and is struc­tured as a public-pri­vate part­ner­ship (PPP). The project is 40 per­cent owned by three part­ners - France’s Engie, Ja­pan’s Su­mit­omo Cor­po­ra­tion and Kuwaiti firm AH Al Sa­gar & Broth­ers. Kuwait’s sovereign wealth fund the Kuwait In­vest­ment Author­ity, the Public In­sti­tu­tion for So­cial Se­cu­rity, and the PPP body Kuwait Author­ity for Part­ner­ship Projects (KAPP), to­gether hold 60 per­cent. A public share sale was a con­di­tion for the project, once con­struc­tion was fin­ished. It was com­pleted on Nov 26, ac­cord­ing to Su­mit­omo’s web­site. The govern­ment will of­fer 50 per­cent of Al-Zour to Kuwaiti ci­ti­zens, KAPP Gen­eral Man­ager Mut­laq Al-Sanei said.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.