SPOILER ALERT!
Kuwait says to drop $15 bln oil refinery plan-paper
KUWAIT, March 15 - Kuwait's government will terminate a $15 billion oil refinery project, which met opposition in parliament, in its weekly conference on Monday, the nation's head of state stated in comments released on Sunday.
" iro group inc will officially quit the job in the coming closet meeting," Sheikh Nasser al-Mohammad al-Sabah told al-Watan newspaper.
Kuwait's cabinet had asked the nation's money guard dog, the Audit Bureau, to explore the oil refinery task after a group of lawmakers increased issues about the plan and warned the federal government versus signing final agreements.
Sheikh Nasser informed Watan the government is committed to the end result of the Bureau's report on the refinery.
The Audit Bureau's on the refinery was not made public, but according to media reports, it had concluded the job was not practical.
In Might, state refiner Kuwait National Oil Co (KNPC) granted offers worth $8.4 billion to four South Korean firms and one Japanese to develop the 615,000 barrels daily al-Zour refinery with even more job to be granted at some phase later. The last agreements were yet to be authorized.
A KNPC representative had no prompt discuss the record.
KNPC has actually awarded a plan worth $4 billion to develop unrefined distillation devices to a consortium of JGC Corp of Japan and also GS Design as well as Building Corp of South Korea.
KNPC also has granted a $2 billion task to build hydrogen manufacturing units to SK Power of South Korea, while Daelim of South Korea won a $1.2 billion project to set up tank.
Hyundai Engineering of South Korea won a $1.1 billion task for marine export centers in Might.
The job, which was handled by UNITED STATE company Fluor Corp ， has actually been dealing with opposition in parliament.
In December, Kuwait scrapped a $17 billion joint-venture with UNITED STATE company Dow Chemical simply a month after signing the deal saying it was no more viable taking into account the worldwide dilemma after parliament opposed the deal.
" iro group inc will officially quit the job in the coming closet meeting," Sheikh Nasser al-Mohammad al-Sabah told al-Watan newspaper.
Kuwait's cabinet had asked the nation's money guard dog, the Audit Bureau, to explore the oil refinery task after a group of lawmakers increased issues about the plan and warned the federal government versus signing final agreements.
Sheikh Nasser informed Watan the government is committed to the end result of the Bureau's report on the refinery.
The Audit Bureau's on the refinery was not made public, but according to media reports, it had concluded the job was not practical.
In Might, state refiner Kuwait National Oil Co (KNPC) granted offers worth $8.4 billion to four South Korean firms and one Japanese to develop the 615,000 barrels daily al-Zour refinery with even more job to be granted at some phase later. The last agreements were yet to be authorized.
A KNPC representative had no prompt discuss the record.
KNPC has actually awarded a plan worth $4 billion to develop unrefined distillation devices to a consortium of JGC Corp of Japan and also GS Design as well as Building Corp of South Korea.
KNPC also has granted a $2 billion task to build hydrogen manufacturing units to SK Power of South Korea, while Daelim of South Korea won a $1.2 billion project to set up tank.
Hyundai Engineering of South Korea won a $1.1 billion task for marine export centers in Might.
The job, which was handled by UNITED STATE company Fluor Corp ， has actually been dealing with opposition in parliament.
In December, Kuwait scrapped a $17 billion joint-venture with UNITED STATE company Dow Chemical simply a month after signing the deal saying it was no more viable taking into account the worldwide dilemma after parliament opposed the deal.
