Four Kuwaiti Banks May Fund Power Plant Construction, Watan Says

National Bank of Kuwait SAK, Al Ahli Bank of Kuwait KSC, Commercial Bank of Kuwait SAK and Gulf Bank KSC are studying the financing of an 800 million-dinar ($2.8 billion) power plant, Al-Watan reported, citing unidentified bankers familiar with the matter.

The lenders will reply within a month to a request from companies implementing the project, the newspaper said.

Kuwait in September signed a contract worth about $2.5 billion with General Electric Co. and Hyundai Heavy Industries Co. to build the 2,000-megawatt power plant. The plant in Subbiya will be operational by summer of 2011.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at

To contact the editor responsible for this story: Shaji Mathew at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.