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Kuwait’s KNPC offers $500m investments to private sector

Kuwait’s KNPC offers $500m investments to private sector
KNPC is expected to invest up to $25 billion until 2040

Mubasher: Kuwait National Petroleum Company (KNPC) plans to offer around four mega investment opportunities to the private sector.

The total investments of the new opportunities amounted to $500 million, sources familiar with the matter said. 

KNPC’s first project entails setting up Linear alkylbenzenes factory at $203 million in investments, they noted. 

The second project aims at producing Aromatic, with a total value of $134 million, sources told Al Anba newspaper.

Moreover, the third project targets extracting vanadium and molybdenum with a cost of $40 million, while the last plant will produce black carbon through heavy oil at $119 million in investments.

KNPC, which is one of the world's top refiners, is expected to invest up to $25 billion until 2040, according to the sources.

The Kuwaiti company will complete 9 megaprojects by the end of 2023 with total investments of KWD 6.7 billion.