KOTC announces plans to build $104m LNG plant

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Kuwait Oil Tanker Co (KOTC) has announced plans to spend around US$104 million on a new liquefied natural gas (LNG) plant in north Kuwait.

The KUNA news agency reported that the plant will have a capacity of around to 8 million cylinders a year, but will expand in the future.

"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," KOTC's Deputy Chairman Sheikh Ali Humoud Al-Sabah is reported as saying.

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Al-Sabah also said that the project will be put out to tender with the successful bidder being announced in the second half of 2010.

The plant is expected to take 24 months to build.