Kuwait intends to issue tenders for the construction of petroleum products storage facilities at a cost of more than $3 billion, a newspaper said on Monday.

The Central Agency for Public Tenders has approved a request by state oil operator Kuwait Petroleum Corporation (KPC) to invite bids for the project comprising storage tanks and construction of pipelines from Al-Ahmadi and Shuaiba refineries, the Arabic language daily Alanab said, quoting official sources.

KPC will meet interested contractors on 17 December to present details of the project, which will be completed within 44 months, the report said, adding that preliminary designs have been completed and KPC has set a budget of 1-1.2 billion Kuwaiti dinars ($3.3-3.9 billion) for the project.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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