Kuwaiti MPs to investigate power project deals
The $2.5bn Az-Zour project is for a 1,500MW power plant
Kuwait's parliament has voted to investigate a US $2.5bn contract awarded to a GDF Suez-led consortium for a power project in the country, local media reported.
Kuwait awarded the Az-Zour North Independent Water & Power Project (IWPP) last year to a consortium led by GDF Suez and which includes Japan's Sumitomo Corp and Kuwait's Abdullah Hamad Al Sagar & Brothers. The parliament voted to form a special committee to probe allegations of irregularities in awarding the contract for the project.
The project for a 1,500 megawatt power plant and desalination facility is Kuwait's first public-private partnership and a test for a country which has struggled to attract foreign investors.
South Korea's Hyundai Heavy Industries Co Ltd and France's Sidem are involved in the project's $1.43 billion first phase, due for completion in the first quarter of 2016.