5 Korean companies will work on Kuwaiti clean fuels project

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5 Korean companies will work on Kuwaiti clean fuels project

Five Korean companies have won orders from the $12 billion Clean Fuels Project (CFP) in Kuwait. The project is divided into three packages and the Korean businesses were involved in each package.

They combined to win about $7.1 billion worth of orders, or 59 percent of the total project value. The project aims to upgrade existing Mina Al-Ahmadi (MAA) and Mina Abdullah (MAB) facilities and expand their refining capabilities from 715,000 barrels to 800,000 barrels per day.

Korea’s SK E&C and GS E&C said that along with Japan’s JGC, it won $4.82 billion worth of the first package to upgrade the MAA facility. The three companies have equal stakes in the work, collecting $1.606 billion each. The project is expected to start in March and be completed by November 2017.

Samsung Engineering secured the first MAB package with the United Kingdom’s Petrofac and CB&I of the Netherlands. Daewoo E&C said it partnered with Hyundai Heavy Industries and U.S.-based Fluor to win the No. 2 MAB package valued at $3.4 billion.

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