KIPIC invests KWD 1.5bn in Al Zour refinery

KIPIC invests KWD 1.5bn in Al Zour refinery
The purchase orders of equipment were finalised

Mubasher: The Kuwait Integrated Petrochemical Industries Company (KIPIC) has invested KWD 1.5 billion in Al Zour Refinery project out of a total investment bundle of KWD 4.87 billion, sources told Annahar newspaper.

The purchase orders of equipment were finalised and the project is going according to schedule, Annahar newspaper reported on Wednesday citing sources as saying.

Slated for completion by December 2019, Al Zour project includes constructing a refinery and facilities to import natural gas, in addition to building petrochemicals complex. 

In July 2016, Kuwait Petroleum Cooperation (KPC) assigned the Al Zour oil refinery, Kuwait's largest refinery project, to KIPIC.