Kuwait has announced plans to invest $12 billion in the renovation of two of its major oil refineries, Reuters are reporting.
The country’s central tenders committee approved bids worth a total of $12 billion, a spokesman for the state-run oil company said on Monday.
A consortium led by Japan’s JGC Corp won the tender for work worth $4.82 billion at the Mina Ahmadi refinery, a Kuwait National Petroleum Company spokesman said.
Britain’s Petrofac, in a bid worth $3.79 billion, is expected to do the work at the Mina Abdullah refinery, and U.S.-based Fluor Corporation will also work on Mina Abdullah after a bid of $3.4 billion, he said.
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