Kuwait Petroleum Corp has hired NBK Capital to advise it on a financing of around $2 billion that is likely to come from Kuwaiti banks, two sources familiar with the matter said.
KPC did not immediately respond to a request for comment. NBK Capital declined to comment on the financing.
The firm’s former chief executive, Nizar al-Adsani, said last year KPC was looking to spend $114 billion by 2023 and an additional $394 billion beyond that up to 2040.
The CEO of Kuwait’s Warba Bank, Shaheen Al-Ghanem, told Reuters last week that Warba Bank was competing to get a lead role in a 350 million Kuwaiti dinar loan for KPC.
Millennium Hotel and Convention Centre Kuwait, a five-star luxury hotel located at the heart of Kuwait city, hosted the grand…758 Views | the publication reaches you by | Kuwait Online
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