Kuwait city: Kuwait Authority for Partnership Projects (KAPP) declared on Sunday signing a commitment document to execute the second and third phases of the North Al-Zour Power and Water project, in coordination with the Ministry of Electricity, Water and Renewable Energy.
According to Kuwait News Agency, the winning consortium comprising ACWA Power Company and the Gulf Investment Corporation will design, fund, build, operate, and maintain the station that will produce electricity and desalinate water. Public shares will be floated for its execution.
This initiative is part of the framework of Law 39/2010, which mandates the establishment of Kuwaiti shareholding companies for the construction of power and water desalination stations, along with its amendments, as well as Law 116/2018 regarding partnerships between the private and public sectors.
KAPP stated in its announcement that this venture is a pivotal step in the state's strategy to meet the increasing demand for water and electricity. It aims to support the national power network, preparing it to handle future development projects.
Moreover, this project reflects the government's approach to involving the private sector in infrastructure development, utilizing its expertise in design, execution, and operation. It aims to expedite achievements, optimize the use of natural resources, and attract foreign investments.
The North Al-Zour project, currently in its second phase, produces 2,700 megawatts of electricity and desalinates 120 million imperial gallons of water per day. Upon completion of this phase, the output capacity is expected to double.
A consortium of local and foreign banks is contributing to the project, with a total investment value exceeding KD one billion (USD 3.2 billion).