KUWAIT, May 24 (Reuters) - Kuwait National Petroleum Co (KNPC) is considering building a large storage plant for oil products at a cost of 400 million Kuwaiti dinars ($1.32 billion), its chief executive said on Wednesday.

Mohammed al-Mutairi said the facility would be built in Mutlaa, an area in northern Kuwait.

($1 = 0.3034 Kuwaiti dinars)

(Reporting by Ahmed Hagagy, Writing by Sylvia Westall; Editing by Elaine Hardcastle) ((sylvia.westall@thomsonreuters.com; Dubai Newsroom +971 56 216 6204; Reuters Messaging: sylvia.westall.thomsonreuters.com@reuters.net))