CBK to finance $1.2bn power plant
Kuwait, March 22, 2011
Commercial Bank of Kuwait (CBK), Kuwait's fourth-largest lender, will part finance $1.2 billion for the second phase expansion of Al-Zour South Power plant, the bank said in a statement on Tuesday.
"The objective of this project is to add another 400 MW to the existing generating capacity of the plant," it said. The existing capacity of the plant is at 800 megawatts.
A number of local, regional and international banks were invited to take part in financing the project, including Al-Ahli Bank, Burgan Bank, Mashreq Bank and Arab Banking Corp. - Reuters