By: Ahmad Awad

Kuwait – Mubasher: An initial public offering (IPO) for Az-Zour North Power plant – also known as Shamal Al Zour Al Oula Co. - will be launched by the end of 2017, according to the oil, electricity, and water minister of Kuwait, Essam Al Marzooq.

In a press conference held on the sidelines of the New Kuwait event ‘Kuwait Vision 2035’, the minister clarified that a 50% stake of the projecty will be offered to the public.

In December 2015, the Kuwaiti government announced completing the first stage of Az-Zour North Power plant, which owned by Al Zour Refinery Co.

It is worth noting that the Kuwaiti government owns a 10% stake in the project, while three other companies own a combined stake of 40%.