By SUMMER SAID
DUBAI -- State-run Kuwait Petroleum Corp., or KPC, plans to issue tenders to build its new refinery and environmentally-friendly fuel project by early next year, the firm's chief Farouk al-Zanki said in remarks published Monday.
KPC has already awarded two firms consultancy contracts for the projects and the other tenders for the construction will be issued by year end or early 2013, Mr. Zanki said, according to state-run Kuwait News Agency, or KUNA.
The two projects, which will be implemented simultaneously and are expected to boost KPC's refining capacity to 1.4 million bpd of crude oil, will cost about $25 billion, Kuwait's oil minister Hani Abdulaziz Hussain has previously said.
The new refinery will be located in Kuwait's Al Zour region while the clean fuel project will involve a major upgrade of existing refineries in Mina Abdullah and Mina Al Ahmadi.
Dow Jones Newswires