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Kuwait Oil Company awards US$487 million port contract to Turkish firm

Kuwait Oil Company (KOC) has announced that it has awarded a US$487mn port construction contract to Turkish engineering and construction group STFA

KOC deputy managing director Ahmad Al-Rushaid said, "STFA will establish a 70-boat capacity port to hold more oil tankers, as well as refurbish and expand the existing harbour at Mina-Al-Ahmadi.

?This vital project will be able accommodate the large increase in oil cargo that will result from the increase in oil exports as a strategy to raise oil production capacity to four million barrels per day in 2020,? he added.

The port's expansion has been scheduled for completion in 2015.