Kuwait to finish key projects on time despite coronavirus

They are worth $47bln

  
Image used for illustrative purpose. Distillation tank of oil refinery plant, twilight time.

Image used for illustrative purpose. Distillation tank of oil refinery plant, twilight time.

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OPEC member Kuwait will complete key projects worth nearly 14.3 billion Kuwaiti dinars ($47 billion) during 2020-2021 despite the COVID-19 lockdown, a local newspaper has reported.

Arabic language daily Alanba said 61 projects, including the 4.6 billion dinars ($15.2 billion), Clean Fuel Project (CFP) and other hydrocarbon ventures, are outlined in the Gulf country's 2035 development strategy and are slated for completion this year and by the end of 2021.

"Officials affirmed that despite the lockdown of nearly 3 months, those projects are progressing as planned and are expected to be finished on time," the paper said.

It noted that the CFP, which involves the upgrading of Mina Abdullah and Mina Al-Ahmadi oil refineries, is nearly finished.

Another major project, the 4.8-billion dinars ($15.8 billion) Al-Zour refinery, is expected to be commissioned this year with a capacity of 615,000 bpd, it added.

According to the report, 29 projects worth around three billion dinars ($9.9 billion) are scheduled to be completed in 2021.

"The projects in 2021 will definitely be finished on time because all indications show that life will return to normal in the second half of that year," it said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#Kuwait #Clean Fuel Project (CFP) #Mina Abdullah and Mina Al-Ahmadi oil refineries #Al-Zour refinery

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