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FinancialNews


  • 16-09-13

    Siemens signs a contract with KNPC for a USD240.4 m project

    (MENAFN) Siemens, a global power giant, signed a contract with Kuwait National Petroleum Co. (KNPC) to provide substations of higher voltage to Kuwait City refineries, according to Arabian Business. Siemens said that the project aims to supply two of KNPC's refineries and will cost about USD240.4 million, while they expect it to begin operation in December 2015. Adrian Wood, CEO of Siemens EES, the Kuwaiti unit of Siemens, commented: "Siemens is proud to be supplying the latest high-voltage technology to KNPC." Wood added: "This project will both enhance and make sure a reliable power supply is available to help Kuwait meet its future market demand for transport fuels by 2020, as it seeks to increase processing capacity at its refineries."

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