Total money spent on project KD4.518 bn until end of Aug

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KUWAIT CITY, Nov 16: The money spent on environmental fuel project exceeded the billion dinars barrier at the end of last August, reports Annahar daily quoting reliable sources. The sources indicated this money was spent on local contracts, which contributed to promoting the market recovery.

The sources stated the total amount actually spent on the project until the end of last August was to 4.518 billion dinars and the share of the local component is 23.4 percent The sources pointed out, the total cost of the project is 4.6 billion dinars, equivalent of 15 billion dollars. The source also pointed out Kuwait is on the right tract of completing the project on time, in spite of the liquidity crisis the country has been suffering from for the past two years.

The environmental fuel project, the sources say, contributes to achieving the strategic direction of the KPC of reaching the refining capacity of 1.6 million barrels in 2025 at the highest transformative level by maximizing the discharge of heavy Kuwaiti oils into the KNPC refineries and meeting the local energy needs. The total refining capacity will reach 800,000 barrels per day for the Ahmadi and Mina Abdullah refineries, through the implementation of the giant project in which the share of the Mina Abdullah refinery will be 454,000 and the Ahmadi refinery 346,000.

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