Thursday, Jan 06, 2011
BEIRUT (Zawya Dow Jones)--State-owned Kuwait Oil Tanker Co., or KOTC, has completed a tender for the third phase of its fleet development project and will award the deals in May, Kuwait-based An Nahar daily reports Thursday, citing an executive.
The third phase involves the construction of nine vessels that will include four crude oil tankers with a load capacity of 320,000 metric tons each, and four petroleum product tankers with a load capacity ranging from 50,000 to 80,000 tons each, in addition to a liquefied natural gas carrier with a load capacity of 50,000 tons, Nabil Bourisli, KOTC's chairman and managing director, told the paper.
KOTC expects to receive the Umm Al Aish tanker in February which will be the second vessel it will receive under the second phase of its fleet development project, he added.
Bourisli said last November, according to an earlier media report, that the combined cost of the second and third phases is 600 million Kuwaiti dinars ($2.13 billion).
KOTC is considering entering the petrochemical transport business and has made a proposal to its parent company Kuwait Petroleum Corp. in this regard, he told An Nahar. Bourisli added that the proposal includes a project to build or buy four or eight petrochemical tankers.
Newspaper website: http://www.annaharkw.com/annahar/Article.aspx?id=247548
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
06-01-11 0732GMT
