Kuwait plans to sell up to 44% stakes in two power projects in 2020, 2021

      Published on Monday, 30 September , 2019      354 Views     
Kuwait plans to sell up to 44% stakes in two power projects in 2020, 2021

  • Business

Kuwait plans to sell stakes of up to 44% in the Al-Zour and Khiran power projects to investors in the middle of 2020 and early 2021 respectively, a senior official said on Sunday.

“We are in the process of appointing the consultant (for the two projects in cooperation) with the Central Agency for Public Tenders,” Mutlaq al-Sanei, who heads the Kuwait Authority for Partnership Projects, told Reuters in an interview.



Kuwait plans to sell at least 26% stakes in each project and not more than 44%, he said.

Public-private partnership projects are a growing trend in the Gulf Arab states as governments want to save money in an era of low oil prices. The government has not said how it will sell the stakes in the two power projects or whether they will be initial public offerings.



Al-Sanei also confirmed at a press conference on Sunday that Kuwait plans to begin the first phase of an initial public offering of shares in another power project, the Az-Zour North Independent Water & Power Project, on Tuesday.

Keywords:
Category Business | 2019/09/30 latest update at 11:53 AM
Source : Reuters | Photocredit :
355 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Emir of Kuwait to return from US after medical treatment Emir

Emir of Kuwait to return from US after medical treatment

The Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah will return home on Wednesday, according to a statement…

Kuwait’s Amir receives calls from US President Trump, Jordan’s King Abdullah Emir

Kuwait’s Amir receives calls from US President Trump, Jordan’s King Abdullah

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Thursday received a telephone call from US President…

Amir hails Kuwait improved listing Emir

Amir hails Kuwait improved listing

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah sent on Saturday a cable of congratulation to His…

Egyptian president in Kuwait Emir

Egyptian president in Kuwait

Egyptian President Abdel Fattah el-Sisi, accompanied by a delegation of officials, arrived in Kuwait on Saturday beginning an…

GULF TV

Popular in GULF TV

FEBRUARY LIGHTS KUWAIT

4186 Views

FEBRUARY LIGHTS KUWAIT

Latest videos in GULF TV

Technology

Kuwait lifestyle and lifestyle Kuwait news

Lifestyle

Kuwait lifestyle and lifestyle Kuwait news

Culture

Culture news and Kuwait culture news

Sport

Sport news from Kuwait and world sport news

Events

Kuwait Events and Events News

Government

Kuwait government News

Emir

News from the Emir of Kuwait