Kuwait signs contracts worth one billion dinars to implement the power plant project project

Kuwait, August 10 / WAM / The Public Public Sector Partnership Authority in Kuwait announced today the signing of a commitment document to implement the Northern Al -Zour Power Station project for the second and third stages with an alliance that includes the “Aqua Power” company and the Gulf Investment Corporation.

Asma Al -Mousa, Director General of the Public and Private Partnership Authority, said that the cost of the second and third stages of the project exceeds one billion Kuwaiti dinars “3.3 billion US dollars”.
She added in a statement on the sidelines of the signing of the document in cooperation with the Ministry of Electricity, Water and Renewable Energy that this project has financing support from a group of local and international banks, which reflects the high level of confidence that the investment and partnership environment in the State of Kuwait has reflects.
She pointed out that the project will be implemented according to the “PBB” system for the partnership, explaining that the share of the foreign investor will reach 40 percent, while 50 percent of the project will be distributed to citizens and the distribution of 10 percent to the public authorities that are entitled to invest in this type of project.
She explained that a public joint stock company will be established and partnership contracts are signed to start design, construction and operation, noting that the company will be included in the Kuwait Stock Exchange as soon as it starts its commercial operations and expected in the middle of 2028.

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