South Korean ‘firm’ to close office in Kuwait

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KUWAIT CITY, Jan 17: South Korean company SK Ecoplant, formerly known as SK Engineering & Construction, intends to close its main branch office in Kuwait, reports Al-Qabas daily. MEED revealed that the company no longer plans to participate in any oil and gas tenders inside Kuwait, knowing that its smaller regional administrative office is still open to handle work related to engineering, procurement and construction contracts, which have been won and are being completed. One of the sources told MEED that “The company is not involved in any new projects.

There is some work being done inside the office regarding the new Al-Zour refinery project, and some other projects that still have incomplete elements or remaining financial issues.” He added, “It is believed that the remaining administrative office will be closed once this work is completed,” at a time when the company did not respond to a request for comment on the closure of the office.

MEED reported that between 2014 and 2017, in the midst of a boom in large Kuwaiti oil and gas construction projects, the company aggressively targeted contracts in the oil and gas sector, winning contracts worth billions of dollars. The closure of the company’s main branch comes as activity in the oil and gas projects market in Kuwait continues at a low level.

This news has been read 14597 times!