KUWAIT CITY, Dec 22: The Kuwait Integrated Petroleum Industries Company (KIPIC) plans to invite bids for the Al-Zour petrochemical complex project, which is planned for mid- 2023, reports Al-Qabas daily. The “Med” magazine stated that KIPIC is moving forward with the project, which has an estimated value of $10 billion, after completing the feasibility study, which was conducted by the Edinburgh-based Wood Mackenzie Research and Consulting Group.

One of the sources said: KIPIC has held meetings on the progress of the project and is planning to invite bids sometime in the middle of 2023 and the contracts are expected to be awarded before the beginning of 2024. It is noteworthy that KIPIC had published a list of pre-qualified bidders for the planned petrochemical complex in April of 2021 for the three main packages of the project, which is also referred to as the Al-Zour Petrochemical Refinery Integration Project.