Kuwait completes $1.7bn plant
01 January 2017
Kuwait has announced the successful completion of the construction phase of its $1.7-billion Azzour North One, the first independently owned power and water plant in the country, and has now initiated the launch of its full commercial operation, said a report.
The Azzour North One project is the first PPP (public-private partnership) project to be tendered and the first to be completed, reported Kuwait Times, citing its owner and operator Shamal Azzour Al Oula.
Shamal Azzour Al Oula is 40 per cent owned by a private consortium comprising Engie (formerly GDF Suez), Sumitomo Corporation and AH Al Sagar and Brothers, while the remaining 60 per cent stake is owned by the government through Kuwait Authority for Partnership Projects (KAPP) which has 50 per cent share along with the Kuwait Investment Authority (KIA) and the Public Institution for Social Security with five per cent each.
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- In brief
