(MENAFN - Arab Times) Kuwait Oil Tanker Co announced Wednesday a plan to invest more than KD 30 million in a new liquefied natural gas (LNG) plant in north Kuwait.
The projected production capacity of the plant amounts to 8 million cylinders a year which will expand later on, KOTC's Deputy Chairman Sheikh Ali Humoud Al-Sabah told reporters here.
Sheikh Ali made the announcement on the sidelines of an exhibition featuring the environment solutions developed by SYMEX company to help businesses enforce the environmental regulations.
"The project will employ the latest technologies in the LNG industry "Kuwait's Central Tenders Committee is working out the procedures of the tender of the new project," he affirmed, predicting the successful bid to be announced in the second half of 2010.
The first face of plant's construction is expected to take 24 months after signing the contract, Sheikh Ali added.
A delegation from KOTC is now on a visit to Latin America to lean about the experiences of countries of the continent in operating advanced LNG production lines, he went on to say.