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Five Firms Submit Bids for Kuwait’s North Shuaiba Power Plant Privatization

Kuwait’s government has received proposals from five firms for the transaction advisory (TA) role on the planned privatization of the North Shuaiba power and water plant, the first existing utilities asset earmarked to be sold off to the private sector in Kuwait.

 

Firms that have submitted proposals in November are Deloitte, Engineering Systems Group, EY (Ernst & Young), KPMG, PwC (PricewaterhouseCoopers).

 

The project is being overseen by the Supreme Council for Privatization (SCP).

 

Tender documents for advisory roles for the North Shuaiba power and water plant were first issued in June 2020, with bids submitted for the financial advisory contract in December 2020. The scope for the North Shuaiba privatization has not changed for the latest tender, according to sources with knowledge of the project. The North Shuaiba plant is estimated to have a value of about $1.2bn.

 

The North Shuaiba Power Plant is currently being operated by a private company under an operation and maintenance (O&M) agreement, which is due to expire in mid-2020.

 

The plant is a dual-fuel combined-cycle plant with a power capacity of 778 MW, and also contains a multi-stage flash (MSF) desalination plant with a capacity of 45 million imperial gallons a day (MIGD).

 

The plant primarily operates on gas, with liquid oil as back-up when gas is not available.

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