OPEC oil producer Kuwait intends to issue tenders for a $10-billion petrochemical project in 2022, a local newspaper reported on Monday.
The project near Al-Zour oil refinery in South Kuwait has been split into three contracts and 7 consortia have already been pre-qualified to bid, the Arabic language daily Alanba said, citing official sources.
The Kuwait Integrated Petroleum Industries Company (KIPIC), the Gulf emirate's downstream investment arm, will start issuing tenders for the 3 projects after it obtains approval from the Central Agency for Public Tenders (CAPT), the paper said.
It revealed that CAPT has delayed response after the US Fluor Company decided to quit bidding for contract 3.
The paper gave no further details apart from saying contract 3 involves the construction of land and sub-sea pipelines and export facilities.
In 2019, KIPIC said it has completed front end engineering designs (FEED) for the petrochemical complex, which will be partly funded through bank loans.
The petrochemical complex near the $16-bln Al-Zour refinery has been on the cards for several years and is part of the emirate’s plans to develop its hydrocarbon downstream industry to diversify its oil-reliant economy.