AMEC to build massive oil refinery in Kuwait

Engineering and project management group AMEC has won a contract worth over half a billion dollars to build a new oil refinery in Kuwait, expected to be the largest in the Middle East.

The project management consultancy (PMC) contract is worth $528m (£330m) and was awarded by the Kuwait National Petroleum Company.

The plant in Al Zour, which will be completed in 2018, will increase Kuwait's refinery capacity by 615,000 barrels per day.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

"This contract award supports our Vision 2015 strategy, which includes growing our presence in the Middle East's oil and gas upstream, midstream and downstream sectors," said AMEC's group President of Growth Regions, Hisham Mahmoud.

"It is also an example of our ability to leverage our global design, engineering and project management expertise to deliver complex projects for our customers anywhere in the world."

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.