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GE wins $2.64bn Kuwait power plant deal

GE wins $2.64bn Kuwait power plant deal
AP
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First Published: Thu, Aug 27 2009. 02 23 PM IST
Updated: Thu, Aug 27 2009. 02 23 PM IST
Kuwait City: Kuwait’s Ministry of Electricity and Water says it has selected US giant General Electric Co. to build a new 760 million dinar ($2.64 billion) electrical power plant.
Ministry spokesman Mishaan al-Otaibi said on Thursday that the Fairfield, Connecticut-based company’s bid was the lowest submitted by a number of pre-qualified companies, including Germany’s Siemens. Kuwait’s financial watchdog, the Audit Bureau, still needs to approve the ministry’s choice.
Al-Otaibi says the 2,000 megawatt facility in Subbiya, across Kuwait Bay from the capital, will raise this small oil-rich state’s electrical power generation capacity to 14,000 megawatts. It will be fueled by natural gas.
Kuwait has 6 power stations, but suffers occasional shortages due to growing demand for air conditioning in the scorching summers.
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First Published: Thu, Aug 27 2009. 02 23 PM IST