Kuwait National Petroleum Company (KNPC) has revealed that it had finished 96.6% of its biofuel project at the end of October, the Kuwait News Agency reported.
The biofuel project is one the world’s largest projects and will upgrade the existing units in Ahmadi, Shuaiba and Abdullah Port Refineries as well as building new ones, Mohammad Al-Mutairi, KNPC’s CEO, told a news conference.
Al-Mutairi explained that the company has been working on building 22 new units in Abdullah port including a crude oil distillation with a capacity of 264,000 barrels per day (b/d). In addition, KNPC is building 17 units in Ahmadi refinery with a capacity of 37,000 b/d.
Around $12.8 billion has so far been spent on the project, including $3 billion to build the largest central operation unit in the Middle East. KNPC has signed an agreement to be funded with $6.245 billion and the company so far has spent $ 5.545 billion, Al-Mutairi added.