By: Ahmad Awad
Kuwait-Mubasher: Kuwait announced the accomplishment of phase one of Az-Zour North power station at costs of KWD 500 million ($1.8 billion), said general manager of Partnerships Technical Bureau Adel Al-Roumi.
Az-Zour North Power Company will offer 50% of its capital for public subscription. The company’s capital currently stands at KWD 120 million. The subscription will start by mid-2016.
The general manager noted that the company will be listed in Kuwait Stock Exchange. Thus, it will be the first electricity firm to be listed in the stock market.
The government owns 10% stake in the company, while 40% of the stake is owned by three private companies.
It is expected that the production capacity of the new power station reaches 10% once operated, said Al-Roumi.
