Kuwait’s KIPCO set to start IPO process for pay-TV unit

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Kuwait Projects Co (KIPCO), the Gulf state’s largest listed investment company, plans to start the process for an initial public offering (IPO) of shares by its pay-television unit OSN within weeks, it said on Monday

Deputy chairman Faisal al-Ayyar said he hoped the bourse listing would be completed by the end of this year, and that he was looking at a primary listing in London.”We start the process within a few weeks,” Ayyar told reporters on the sidelines of KIPCO’s annual general meeting.

Asked where OSN would list, he said: “It depends on how much corporate governance is needed, and how much is needed as a stake to be sold … all things are tilted towards London, but not as GDR (global depository receipts), as a primary listing.”

He did not say which banks were involved in the process.The OSN network operates in the Middle East and North Africa. Ayyar said it currently had around $700 million in annual revenues which he expects to double over the next three years.

KIPCO said in February the network had nearly a million subscribers.KIPCO, an investment house with stakes in media, industrial, financial and real estate companies, said in June it was planning to list OSN. It currently has a 60.5 percent stake.KIPCO hired financial group Rothschild to advise on the IPO.

Last year brokerage Arqaam Capital said it had raised its valuation of OSN to $4.3 billion from the previous estimate of $2.5 billion, an increase of 72 percent. Ayyar said KIPCO expected group revenues and profit to grow by a double digit percentage each year over the next three years.

KIPCO reported a 75 percent rise in fourth-quarter net profit in February, saying OSN had performed strongly.Net profit in the three months to the end of December was KD14 million ($49.7 million), compared with KD8 million in the same period the year before.

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KPC seeks to boost Kuwait oil industry in int’l mkts: CEO

Deputy Chairman and Chief Executive Officer of Kuwait Petroleum Corporation Mr. Nizar Al-Adsani confirmed that KPC , as part of its responsibility, is keen on supporting the national economy, enhancing effectively the development plan and initiating sturdily progressive steps to achieve KPC 2030 strategic directions. In a press statement on KPC participation in the 2nd Gulf Petroleum Forum which is organized by IG Events, Al-Adsani said, ” KPC pays special concern to the scientific research; therefore, it is keen on patronizing its activities; thereof, it tends to establish an international research center specialized in oil industry to develop it and underpin its status terrestrially and internationally.”

He clarified that petrochemical industry is one of KPC priorities inside and outside Kuwait; accordingly, it seeks diligently to achieve integration between petrochemical industry and refining industry to create an added value and optimize such goal which is one of the key pivots of KPC strategy. Consequently, the corporation seeks to bolster collaboration with international partners in this field to develop incessantly such important industry, enhance the status the Kuwaiti oil industry internationally and penetrate new international promising markets. With reference to the Kuwaiti personnel in KPC and its subsidiaries, Al-Adsani said the human resource is considered one of the key elements of KPC strategic plans, adding the percentage of the Kuwaiti personnel recruited in KPC and its subsidiaries has ostensibly increased through providing youth with job vacancies and rehabilitating them to join and perform the various phases of oil industry in Kuwait.

He went on to say that human resource is the key pivot for fulfilling successful investment. It is the safety valve which helps achieve the forward-looking desires and plans, as it enables KPC to enter new promising markets particularly in Asia; in addition to underpinning its strategic partnerships with international distinguished institutions of scientific research and training. Al-Adsani emphasized that KPC is keen on implementing huge oil projects inside and outside Kuwait among which the fourth refinery project, the clean environment fuel project, and the refinery and petrochemical complex in Vietnam; the matter will enhance the status of Kuwait internationally, as such projects will help produce petroleum products in liaison with the international environment criteria and stipulations allotted in this domain; moreover, this helps create and added value for the Kuwaiti oil industry among other industries.

He added, ” KPC participation in sponsoring the 2nd Gulf Petroleum Forum is among its keenness to avail of such significant forums which serve its goals and ambitions which are aimed at accomplishing more progress and devotion in the Kuwaiti oil sector.” “As we live in a world whose incidents are moving very fast, it is necessary to optimize the opportunity of building constructive collaboration among the international and national companies to be able to confront and surmount the future challenges and provide better future for energy,” noted Al-Adasni. He further depicted the 2nd Gulf Petroleum Forum, in which several governmental and non-governmental authorities, Gulf and Arab private and public oil companies along with Gulf and international oil experts take part, as a distinguished and lucrative activity which highlights the role of the Gulf oil sector and cooperation in promoting such substantial industry.

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Alargan International Real Estate HQ becomes Kuwait’s first LEED project.

Alargan International Real Estate Company’s headquarters in Kuwait has been awarded the LEED Platinum certification for commercial interiors, making it the first such certification for any project in the country.

Alargan’s building, located in the Argan Business Park in Shuwaikh Free Trade Zone, was awarded the certification for implementing practical and measurable strategies and solutions aimed at achieving high performance in sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

“The LEED Platinum certification is a strong endorsement on our commitment to the highest standards of environmental sustainability and our commitment to strengthen energy efficiency in our headquarters building,” said Eng. Khaled K. Al-Mashaan, chairman and MD, Alargan.

“Being the first company to achieve the certification in Kuwait underlines our believed leadership in developing sustainable projects that serve as industry benchmarks,” Al-Mashaan said. “Incorporating the highest standards in sustainable design also highlights our commitment to future generations by creating truly world-class environments that are in harmony with nature and add to the quality of life of the people.”

Among the features of the new building that assist in increased energy use efficiency and all-round environmental sustainability include high-performance glazing to manage exterior heat, energy-efficient lighting and air conditioning systems, energy-savings through lighting control using motion detectors and daylight sensing technology, etc.

The building has also been designed to ensure that nearly 75% of the commonly occupied spaces receive abundant daylight, in addition to thermal comfort and control. Further, the use of low-emitting adhesives, paints, coatings, carpets and furniture improve indoor air quality.

“Alargan International headquarters’ LEED certification demonstrates tremendous green building leadership,” said Rick Fedrizzi, President, CEO & Founding Chair, U.S. Green Building Council. “The urgency of USGBC’s mission has challenged the industry to move faster and reach further than ever before, and Alargan International headquarters serve as a prime example with just how much we can accomplish.”

Alargan International Real Estate Company started out as a family owned contracting company in 1994 specializing in the construction of residential projects. Today, the company has grown to become one of the leading residential developers in the GCC, offering a wide array of real estate services.

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Facebook released new images for their future headquarters building.

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After Facebook assumed the former Sun Micro systems complex in Palo Alto in 2011, Facebook founder Mark Zuckerberg set out to find an architect capable of handling a grand design for its main main headquarters building. Zuckerberg chose world famous architect Frank Gehry for the job (amid major concessions to the city of Palo Alto).

If he was looking for impact, Zuckerberg could have made no better choice. Gehry’s past designs have become renowned tourist attractions, like the Guggenheim Museum in Bilbao, Spain. They are considered some of the most important works of contemporary architecture on the planet.

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Photos of the Gehry model that will become Facebook’s new HQ have been floating around for a couple of years. But with the building slated for completion next year, Facebook provided these new, exclusive images to Business Insider of what the world can expect from Gehry’s latest design:

At more than 435,000 square feet, spread across 22 acres, the new building dips and rises  from 45 to 73 feet. It is built above a surface-level parking lot with a massive rooftop green space that resembles a park more than a small corporate outdoor garden.

Facebook’s new building is a powerful example of how people create a sense of space and ownership over their environment. Buildings have long been held up as shining example of human innovation. Considering Gehry’s new design is just one of  many expansive new Silicon Valley projects, it feels as if the whole area is gently reshaping its self image.

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The roof will support a handful of outdoor cafes, barbecues and work benches beneath full-size trees to complete the park-like effect. One building will be large enough to house 10,000 workers in a single room.

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Saudi plans $533m of water infrastructure projects

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Saudi’s National Water Co (NWC), the kingdom’s largest supplier of water, is planning SR2bn ($533m) of water infrastructure projects in the tourist area of Taif, Saudi Press Agency (SPA) reported.

According to the state-owned news agency, the utility was working to increase capacity in the City of Roses near the mountainous Al Hada area to meet rising demand.demand. Taif is the site of 30 water projects that started last year, including supply networks, sewage systems, treatment plants and a reservoir.

Dams were also planned for Makkah and Riyadh, SPA said.The kingdom is expected to complete work on the world’s largest desalination plant by 2018 in Rabigh on the Red Sea near Taif.

When fully operational the plant will supply 600,000 cubic meters (158 million gallons) of water a day.

Via : Saudi Press Agency (SPA)

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Kuwait’s Emir calls on Arab states to end rifts.

Kuwaiti Emir.

Warning of “enormous” dangers, Kuwait urged Arab leaders on Tuesday to resolve a lengthening list of disputes complicating crises such as Syria’s war and political strife in the biggest Arab state, Egypt.The annual summit of the 22-member Arab League also heard an appeal from the UN peace mediator for Syria, Lakhdar Brahimi, for an end the flow of arms to the combatants in the war, which has killed over 140,000 people and forced millions to flee.

Brahimi did not name the suppliers, but Saudi Arabia and Qatar are believed to be the main Arab funders of military assistance to rebels in Syria, while non-Arab Iran is the main regional power backing President Bashar al-Assad.”The whole region is in danger,” of being dragged into the conflict, Brahimi said, calling for renewed efforts to find a political settlement to the crisis, now in its fourth year.Kuwait’s emir, Sheikh Sabah al-Ahmed al-Sabah, urged Arab states to solve rifts he said were blocking joint Arab action.

“The dangers around us are enormous and we will not move towards joint Arab action without our unity and without casting aside our difference,” Sheikh Sabah, the summit host, said.He named no country. But he was apparently referring to worsening disputes among Arab states over the political role of Islamists in the region, and over what many Gulf states see as interference in their affairs by Shi’ite Muslim Iran, locked in a struggle for regional influence with Sunni power Saudi Arabia.

The summit follows an unusual row within the Gulf Cooperation Council alliance of Gulf Arab states over Qatari support for Egypt’s Muslim Brotherhood, and a spat between Iraq and Saudi Arabia over violence in Iraq’s Anbar province.Gulf states tend to keep their disputes private, making a move by Saudi Arabia, the United Arab Emirates andBahrain this month to recall their ambassadors from Qatar highly sensitive.

Kuwait has offered to mediate: Shortly before the gathering Kuwait’s Sheikh Sabah, smiling broadly, stood between Saudi Crown Prince Salman and Qatar’s emir, Sheikh Tamim bin Hamad al-Thani, holding hands with them in an apparent attempt to convey a mood of reconciliation.But a Kuwaiti official said the dispute between Qatar and its neighbours was not expected to be on the summit’s agenda.”Gulf reconciliation, and Gulf issues are something for inside the Gulf house,” said Khaled al Jarallah, Kuwaiti undersecretary for foreign affairs.

Arab summits are often dominated by the Israeli-Palestinian conflict, a unifying topic for Arabs. The “Arab Spring” uprisings that began in 2011 have polarised the region, however.Syria’s war has stirred tensions between Sunni Muslims, notably in the Gulf, and Shi’ites in Iraq, Lebanon and Iran, whose faith is related to that of Assad’s Alawite minority.Reiterating that he saw no military solution to the war, Brahimi said Lebanon was in particular danger of being sucked into the conflict.

This appeared to be a reference to recent clashes between Alawites and Sunnis in northern Lebanon and Sunni militant bomb attacks in areas controlled by Lebanon’s Shi’ite Hezbollah which has been helping Assad in his war against Sunni rebels.Saudi Crown Prince Salman called for “changing the balance of forces” on the ground there, adding that the crisis in Syria had reached catastrophic proportions.

On Monday Lebanon’s foreign minister called on Arab states to support the Lebanese army to counter fallout from Syria’s war, which he said threatened to tear the country apart.The meeting was expected also to discuss other challenges such as Iran, which has improved its long-frosty ties with Western powers since the election of President Hassan Rouhani.

Syrian opposition leaders have been lobbying the Arab League to give them Syria’s seat on the pan-Arab body, and to push Arab states to approve the delivery of military hardware to them.In the event, Syria’s seat remained vacant at the summit.The head of the opposition Syrian National Coalition, Ahmed al-Jarba, made a speech appealing for more outside help for the rebels, and chided Arab states for not agreeing to give the coalition Syria’s seat, saying this would only embolden Assad.

Jarba asked Arab states to press the international community to provide heavy weapons to “our revolutionaries” and increase humanitarian support to Syrians affected by the conflict.Syria’s Arab allies, including Iraq, Algeria and Lebanon, oppose support for the rebels. They point out that Islamists, including groups linked to al Qaeda, are the strongest force in the armed opposition.

Via : Arabian Business

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The 6th Kuwait Waste Management & Recycle Conference will starts on 16 April,2014.

Kuwait Waste Management Conference & Exhibition

The 6th Kuwait Waste Management Conference & Exhibition is the premier event for the recycling and waste management industry in the GCC region.

It will present a platform to explore latest technologies & products and find best practices to successfully manage waste in a cost effective and environmental friendly manner. It will assemble leading industry players, waste management solution providers and consultants to address and discuss challenges and strategies for waste minimization , collection, treatment, disposal and recycling.

The 6th Kuwait Waste Management Conference & Exhibition will provide a distinctive opportunity to all the national and international exhibitors to network and put on display the most recent equipments, services, solutions and technologies in the waste and recycling industry on a single platform.

The 6th Kuwait Waste Management Conference & Exhibition is a must attend event for waste management companies, materials recycling facilities and local authorities as well as personnel responsible for their organization’s recycling and waste management.
Thanks To:  Pro Media

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Qatar World Cup 2022 decision delayed to 2015.

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World football authorities will not make a decision on whether to switch the Qatar 2022 World Cup to the cooler winter months until early in 2015, according to the head of the Asian Football Confederation (AFC).

Global organising body FIFA had previously said that a resolution to move the tournament from summer, where temperatures in the Gulf state can reach up to 50 degrees Celsius, would be made by the end of this year.

“There are a lot of partners that we need to sit and talk with and find the best solution and I am sure this decision will not be taken before the first quarter of 2015,” Sheikh Salman bin Ibrahim Al Khalifa, president of the AFC, told Britain’s the Press Association.

“The decision is to look at the possibilities of the timing, as we speak now it is still June/July but the aim of this task force is to look at the other options and the concerns that some will have,” Sheikh Salman added.

Qatar was awarded the rights to host football’s most prestigious event in a 2010 vote, which has been mired in controversy ever since, not least due to concerns over weather conditions, but also over allegations of bribery and maltreatment of foreign labour.

The Bahraini national defended Qatar’s record on its treatment of overseas workers, which has come in for stinging criticism, with reports showing that hundreds of labourers have died working on infrastructure projects in the country.”I think because of the World Cup, this issue is being addressed and looked at,” he said.

“I am sure that the government of Qatar is co-operating positively in that sense. The best thing the World Cup is doing now is trying to improve the working conditions in Qatar. If it wasn’t for the World Cup I’m not sure we would have heard of this issue,” Sheikh Salman added.

Via : Arabian business.

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Kuwait to hold Arab League Summit for the first time in History.

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Kuwait will host the upcoming Arab Summit League 2014 for the first time.According to press release to WCK, the Summit, now in its 25th year, will take place in Kuwait City from 25-26 March, and will gather the members of the Arab League and leaders from across the Arab world.

This year’s Summit “Solidarity for a Better Future”, hosted by The State of Kuwait and presided by HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al Sabah, will focus on the core issues of Arab integration, cooperation and coordination, as well as the latest developments in the region, through a series of sessions and meetings over the two days.

Foreign Ministers will meet ahead of the Summit, and Arab leaders and chief delegates will arrive in Kuwait on 24 March.
For the first time, a representative from the new nation of South Sudan will attend the Summit, to give a report on the progress the country is making on its journey towards stability and prosperity, and the Summit intends to provide a springboard for Arab integration.

Following the Syria Donor Conference held in Kuwait in January, solving the conflict in Syria and alleviating suffering will continue to be a key focus of the Summit.

Kuwait has hosted several regional and international events over the past few months, reflecting Kuwait’s pivotal role in the promotion and consolidation of cooperation and solidarity among Arab states, including the Arab-Africa Summit and the GCC Annual Summit..

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Bahrain and Pakistan aimed to boost economic co-operation.

Bahrain and Pakistan yesterday signed a number of agreements aimed at boosting economic co-operation.

** Agreement between the Industry and Commerce Ministry and Manama Food Industry Company (MFI) which aims to expand the company’s presence in Hidd Industrial Area. The total investment is approximately $ 53 million. The agreement was signed by Industry and Commerce Minister Dr Hassan Fakhro and Mohammed Akram Chaudhry.

**Agreement between the Industry and Commerce Ministry and Manama Packaging Industry Company. The agreement was signed by Dr Fakhro and Mohammed Ejaz Chaudhry.

** Memorandum of Understanding (MoU) between Bahrain Economic Development Board (EDB) and Board of Investment (BOI) Pakistan to develop and undertake collaborative activities and projects, share knowledge and have integrated technical exchange and assistance in the areas of mutual interests. The deal was signed by Transportation Minister and EDB acting chief executive Kamal Ahmed and special assistant to Pakistani prime minister and BOI chairman Dr Miftah Ismail.

** MoU between the Bahrain Chamber of Commerce and Industry (BCCI) and the Federation of Pakistan Chamber of Commerce and Industry (FPCCI). It was signed by BCCI chairman Khalid Almoayed and FPCCI president Zakaria Usman.

** MoU between BCCI and Karachi Chamber of Commerce and Industry (KCCI). It was signed by Mr Almoayed and KCCI president Abdullah Zaki.

** MoU between Gulf Petrochemical Industries Company (GPIC) and Fatima Fertilizer Company Limited (FFC) in human resource and training collaboration. It was signed by GPIC president Abdulrahman Jawahery and FFC chief executive Fawad Ahmed Mukhtar.

** MoU between GPIC and Fauji Fertilizer Company Limited (FFC) in human resource and training collaboration. It was signed by Mr Jawahery and Fauji Fertilizer chief executive and managing director Lt Gen Naeem Khalid Lodhi.

** MoU between Bahrain Livestock Company (BLC) and PK Livestock Company with aim to expand both sides’ relationship and to continue to supply BLC with high quality halal lamb, mutton and beef meat and benefit from the experience of PK Livestock Company in operating slaughterhouses and food processing projects and mutually co-operate in upgrading existing facilities and building new facilities in Bahrain in similar area of business. It was signed by BLC chairman Ebrahim Mohammed Ali Zainal and PK Livestock Company chairman Tariq Butt.

** MoU between Manama Food Industry and Hamza Vegetable Oil Refinery and Ghee Mills with the aim to exchange information on chicken processing plant and mineral water plant businesses in Bahrain and the Middle East. The MoU also plans to conduct feasibility study to identify new target markets and products to be introduced for manufacturing in the kingdom and to evaluate the feasibility of a joint venture manufacturing facility in Bahrain International Investment Park. It was signed by Mr Chaudhry on behalf of Manama Food Industry and Sufi Tariq Ullah on behalf of Hamza Vegetable Oil Refinery and Ghee Mills.

** MoU between Nader and Ebrahim S/O Hasan Company and Durrani Group of Companies with aim to export fresh fruits and vegetables from Pakistan to Bahrain. It was signed by Nader and Ebrahim S/O Hasan Company managing director Ebrahim Al Ameer and Durrani Group of Companies director Barbar Khan Durrani.

** MoU between Nader and Ebrahim S/O Hasan Company and Lion Group of Industries with the aim to export fresh fruits and vegetables from Pakistan to Bahrain. It was signed by Mr Al Ameer and Lion Group of Industries owner Mian Shafiq Ahmed.

**MoU between Ali Rashid Al Amin Company and Intertrade Rice to expand relationship and explore new avenues for mutually beneficial business co-operation in the future and to continue to supply Bahrain basmati rice. It was signed by Ali Rashid Al Amin Company director Khalid Al Amin and Intertrade Rice managing director Qamar Farooq.

l MoU between Mobitech Consulting Company and Discretelogix Pakistan to collaborate in areas of digital media and management. It was signed by Mobitech Consulting Company managing director Adel A Malik and Discretelogix CEO Farrukh Malik .

** MoU between Mobitel Middle East and IKAN Engineering Pakistan to collaborate in areas of telecom and engineering services. It was signed by Mobitel Middle East chairman and group CEO Mohammad Rizwan Khalil and Middle East of IKAN managing director Mohammad Naeem.

** MoU between Hiba Construction and Design Manama and SIFCO Engineering Services Pakistan to collaborate in areas of construction and industry development. It was signed by HIBA Construction chairman and group CEO Mohammad Rizwan Khalil and SIFCO chairman and group CEO Mohammad Saleem Wahid. l MoU between Mobitel Middle East and Vertex Technologies Pakistan to collaborate in areas of ICT solutions and services. It was signed by Mobitel Middle East founder and managing director Adeel A Malik and Vertex Technologies managing director Shahzad Tahir.

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Kuwait University (KU) will establish five new scientific departments.

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Minister of Education and Higher Education issues a Decree to establish 5 new scientific departments in College of Public Health in Health Sciences Center Kuwait University

The Minister of Education, Higher Education and the higher President of Kuwait University, Mohammed Al Mulaifi issued a Decree, which stipulates on establishing the following departments in the Health Sciences Center at KU:

 

- Department of Epidemiology and Bio Statistics.

- Department of Health Policy and Management

- Department of Environmental and Occupational Health

- Department of Public Health Practice

- Department of Social and Behavioral Sciences

After revising the University Law’s number (29) of the year 1966 amendments, it’s implementing regulation and complementary systems, and on the University Counsel meeting’s Decree number (2/2013) dated 21/5/2013 approving the establishment of College of Public Health which is affiliated to the Health Sciences Center.

 

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KOC said ,No leakage at oil installations.

Kuwait Oil Company (KOC) on Tuesday emphatically denied rumors buzzing social media sites about purported leakage at oil installations.
Smoke that billowed into the skies in south of the country early today originated from the industrial zone in Mina Abdullah, said the KOC in a statement.
The KOC operations are proceeding regularly, along with standard safety precautions.The industrial zone witnessed early today a fire that burned a dumping site of used tires that were later dumped with heaps of sand.

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UAE, Kuwait plan labourer recruitment pilot project

The UAE and Kuwait are planning to conduct a pilot project aimed at developing a comprehensive qualifications and skills framework to improve recruitment of labourers in the Gulf market.The UAE Labour Ministry and the Ministry of Labour and Social Affairs in Kuwait have held talks to develop the framework, with further discussions scheduled for November.

Humaid bin Deemas, Under-Secretary of the UAE’s Ministry of Labour, said in comments published by news agency WAM that the talks held in Abu Dhabi aimed to lead to a pilot project to enhance the Gulf labour market.WAM said the Abu Dhabi Dialogue included membership of 11 Asian labour-sending countries such as Afghanistan, Bangladesh, China, India, Indonesia, Nepal, Pakistan, Philippines, Sri Lanka, Thailand and Vietnam. It also had participants from Japan, Singapore and South Korea.

Bin Deemas said: “We’ve reviewed during the meeting, a draft relating to the pilot project, which aims at documenting labourers skills through a recognition process by handing out certificates that state their experience levels.

“This will also allow employers to obtain the required labourers that are fit to the nature of the existing profession and give them an estimate of the wages they deserve, while keeping in mind the advantages workers get by obtaining a professional certificate regarding their careers once they return to their homeland.”

He added: “It’s still at pre-operational stage, we will implement a trial by selecting a sample of workers in professions related to the construction sector in the labour markets of both countries then test those workers and measure their skill development with reference to certain criteria.”The trial phase is expected to last for two years, he said.

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Kuwait’s New Refinery Contractors submit bank guarantees.

Three international consortium awarded multi-billion dollar refinery deals by Kuwait last month have submitted bank guarantees to the Gulf emirate and are expected to formally sign the contracts on April 10, a Kuwaiti newspaper reported on Monday.

National Bank of Kuwait (NBK) has offered guarantees to two consortium while National Bank of Abu Dhabi (NBAD), one of the largest banks in the Arab region, has signed a guarantee agreement with the remaining consortium, the Arabic language daily Al Anba said, quoting unnamed sources in the Kuwaiti National Petroleum Company (KNPC).

The paper said the three guarantee deals have a total value of around KD165 million ($ 595 million) but it did not mention the value of each package.“The three consortium have submitted bank guarantees for the contracts ahead of the deadline set by KNPC on Monday,” the report said.“KNPC sources said they expected the clean fuel project (CFP) contract, the largest refining deal in Kuwait, to be signed on April 10.”

Kuwait, a key Opec oil producer, has awarded three contracts worth nearly $ 12 billion to consortium led by Japanese, British and US firms for the development of its Mina Abdullah and Mina Al Ahmadi refineries. The groups include JGC Corp of Japan, the UK’s Petrofac, and Fluor Corp of the US.

The CFP project, which also includes construction of the 615,000-bpd Al Zour refinery in southern Kuwait, will nearly double the country’s refining production to around 1.4 million bpd.

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