Coke plant takes shape

12 November 2004
A tender has been issued by the newly incorporated Petroleum Coke Industries Company (PCIC)for the main construction package on its proposed $135 million coke calcination plant in the Shuaiba industrial area. An award is expected by the end of the first quarter of 2005, with a view to commissioning the facility by January 2007.

The main product of the plant will be 300,000 tonnes a year of calcined coke, along with flyash. PCIC is in negotiations with regional aluminium producers over long-term offtake agreements. Green coke feedstock for the plant will be sourced from the Mina Abdullah and Mina al-Ahmadi refineries operated by Kuwait National Petroleum Company (KNPC).

The facility will be financed on a debt/equity basis, with PCIC making full use of financing extended by the Industrial Bank of Kuwait. PCIC was formed by a group led by the local Al-Mal Kuwaiti Company which won the 25-year build-own-operate-transfer (BOOT) concession for the plant in April. The other members of the team include the local Al-Sagar Group, Rain Calciningof India and the US' Oxbow Carbon. The local Global Investment Houseis financial adviser (MEED 9:4:04).

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