The Kuwait Authority for Partnership Projects (KAPP) signed contracts on Sunday with Saudi's ACWA Power and the Gulf Investment Corporation for phases two and three of the Al-Zour North power plant, Reuters reported.
The value of the phases of the power plant project exceeds 1 billion Kuwaiti dinars ($3.27 billion), the Kuwaiti authority's director general told Reuters. He said the investors, not the government, will bear the cost.
The signing ceremony on Sunday sets in motion one of the biggest electricity projects in the Gulf country as it seeks to address severe electricity shortages, according to Reuters.
