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News Brief | December 2015

Essars Italian venture bags $1.5bn order

Essar Projects today said its joint venture with Italy´s Saipem S.p.A won a $1.57 billion order from Kuwait National Petroleum Company for setting up a part of the Al-Zour Kuwait’s biggest development Project.

This is Essar´s biggest third-party order won in the region. The project at Al Zour is Kuwait´s biggest development project with a crude processing capacity of 615,000 barrels per day (bpd). The Kuwaiti company has so far awarded four contracts for the refinery´s construction, worth over $13.2 billion to different International bidders. The project is expected to be completed by 2019.c

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