Kuwait’s first power plant to be developed under its landmark move into public-private partnerships is set to open by early 2015, it was reported.
Partnerships Technical Bureau (PTB) chairman Adel Al Roumi said construction of Az-Zour North electricity-generating station was the fruit of concerted efforts by dozens of government agencies and the private sector.
"This is the first mega development project being developed under the Public Private Partnerships (PPP) Law," he said.“(If) the implementation of Az-Zour North IWPP (Phase I) goes smoothly and the station will become operational by early 2015.”
The Project involved the development, design, engineering, construction, operation, maintenance and transfer of a power and desalination plant with a capacity of at least 1,500MW and 102 million Imperial Gallons per Day (MIGD).It also included the sale and purchase of associated power and water by the Ministry of Electricity and Water pursuant to an Energy Conversion and Water Purchase Agreement (ECWPA).
“Kuwait Petroleum Corporation (KPC) specified the type of fuel that best suits the station as per the technical studies of the corporation," Al Roumi said.He said global banking institutions had showed interest in funding 80 percent of the project, which also affirmed the trust of investors in the Kuwaiti economy.
Via: Kuwait News Agency
No.of Reads (336)