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.
