(MENAFN) Kuwait has awarded a new USD1.57 billion contract for work on its planned Al-Zour oil refinery to a consortium made up of Italy's Saipem and another firm.
The 45-month contract, valued at USD1.57 billion, was the lowest offer submitted in the tender, Khalid Al-Asousi, spokesman of state-run Kuwait National Petroleum Co (KNPC) said.
Last month, KNPC announced that it awarded USD11.5 billion in contracts to build the planned 615,000 barrel- per-day refinery.
That included a USD1.5 billion contract for a consortium comprising Saipem, Hyundai Engineering and Construction, and SK Engineering and Construction to build a marine export terminal.
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