Latest news with #AsmaaAl-Mousa
Zawya
a day ago
- Business
- Zawya
Kuwait to tender Al-Khairan IWPP soon: Report
Kuwait Authority for Partnership Projects (KAPP) will tender seven to eight projects, including Al-Khairan independent water and power plant (IWPP) soon, according to a news report. The tender documents will soon be approved for the IWPP, acting director general Asmaa Al-Mousa told Al Arabiya Business. The Al-Khairan project is located south of Kuwait City, with a power generation capacity of 1,800 megawatts (MW) and desalination capacity of 125 million imperial gallons per day (MIGD). She said the authority is working on major r enewable energy projects, including the Shagaya and Dabdaba projects currently under tender, in addition to several other projects undergoing economic feasibility studies. (Writing by P Deol; Editing by Anoop Menon) (
Business Recorder
2 days ago
- Business
- Business Recorder
Kuwait signs contracts for $3.27bn power plant project
KUWAIT: The Kuwait Authority for Partnership Projects (KAPP) signed contracts on Sunday with Saudi's ACWA Power and the Gulf Investment Corporation for phases two and three of the Al-Zour North power plant. The value of these phases of the power plant exceeds 1 billion Kuwaiti dinars ($3.27 billion), the Kuwaiti authority's director general told Reuters. Asmaa Al-Mousa said that the investors, not the government, will bear the cost. The signing ceremony on Sunday sets in motion one of the country's biggest electricity projects as it seeks to address severe electricity shortages. Once completed, the Al-Zour North project will produce 2.7 gigawatts (GW) of power and 120 million gallons of water daily using combined-cycle technology, with construction set to take three years. Kuwait expects a significant improvement in electricity services once several major projects come online, including a large-scale venture with China, Adel Al-Zamel, the undersecretary of the Ministry of Electricity, Water and Renewable Energy said during the signing event. Since last year, the government has resorted to planned power cuts in some areas to reduce the load. 'If (the projects) go according to plan, by 2028 our situation will be much better,' Al-Zamel told reporters. Kuwait hopes to sign an implementation agreement with China in the first quarter of 2026 for phases three and four of the Shagaya renewable energy project, with a combined capacity of 3.2 gigawatts (GW), Al-Zamel said.
Kuwait News Agency
2 days ago
- Business
- Kuwait News Agency
KAPP: Cost of Al-Zour North Power Plant project exceeds KD one bln
KUWAIT, Aug 10 (KUNA) -- Acting Director General of Kuwait Authority for Partnership Project (KAPP), Asmaa Al-Mousa, confirmed on Sunday that the cost of the second and third phases of the Al-Zour North Power Plant Project exceeds one billion Kuwaiti dinars (approximately USD 3.3 billion). This came in a press statement by Al-Mousa on the sidelines of the signing of the commitment document for implementing phases two and three of the Al-Zour North Power Plant Project, in cooperation with the Ministry of Electricity, Water and Renewable Energy, and a consortium that includes ACWA Power company and the Gulf Investment Corporation. She stated that the project enjoys financial support from a group of local and international banks, reflecting the high level of confidence in the investment and partnership environment in Kuwait. Al-Mousa pointed out that the project will be implemented under the Public-Private Partnership (PPP) system, clarifying that the foreign investor's share will amount to 40 percent, while 50 percent of the project will be allocated to citizens, and 10 percent to public entities eligible to invest in such projects. She noted that this project reflects the government's direction towards involving the private sector in infrastructure development and leveraging its expertise in design, implementation, and operation contributing to reduced costs, accelerated completion, and optimal use of natural resources, as well as attracting foreign investments and financing major development projects within the country. Al-Mousa explained that a public joint-stock company will be established, and partnership contracts will be signed to commence design, construction, and operation works. The company will be listed on the Kuwait Stock Exchange once it begins its commercial operations, expected in mid-2028. (end)
