Mubasher: A number of Kuwaiti banks are waiting to finance the Duqm refinery project which is being implemented in partnership between Kuwait and Oman at a total investment cost of $7 billion.
The project will likely have a refining capacity of 230,000 barrels per day (bpd) of crude oil.
The total value local Kuwaiti banks will be financing as part of the project amounts to $800 million, divided on two parts, Islamic and traditional financing, sources told Al-Seyassah newspaper.
The Duqm refinery project is one of the largest strategic projects undertaken by a subsidiary of the Kuwait Petroleum Corporation (KPC) in cooperation with the Oman Oil Company (OOC).
The sources further told the Kuwaiti newspaper that alongside local banks, other participants in the financing strategy include Gulf banks, a global export credit agency, the Korean export credit agency, added to a number of Spanish, Italian, Japanese, and Korean banks.
