Turkish firm wins $487m Kuwait port contract
Kuwait, January 29, 2013
Kuwait's state oil company has awarded Turkish conglomerate STFA a contract worth KD137 million ($487 million) to build a small port and expand an existing one at a refinery in the country, state news agency Kuna said on Tuesday.
STFA will double the capacity at the port used to transport oil from the Ahmadi refinery, Kuna said, citing Ahmed Rashid, the deputy managing director of Kuwait Oil Company.
Kuwait, which produces around 3 million barrels a day (bpd) and ships two thirds of it, wants to expand its production to 4 million bpd by 2020.
The Turkish group will also build a new port to hold 70 boats used to support oil tanker shipments, Kuna said.-Reuters
More Construction & Real Estate Stories
- $16m work planned for Bahrain hospital
- Al Hamra Village wins top mixed-use award
- Schön sees business park project on track
- Kuwaiti developer starts Dubai tower work
- Asteco appointed agent for Dubai tower
- Interface named ‘Most Sustainable' firm
- Musanada inks $582m Abu Dhabi-Dubai road deal
- Manara residential project on track
- Duqm completes airfields infrastructure work
- House prices hit new peak, led by emerging Asia