JBIC signed a project finance loan agreement with SHAMAL AZ-ZOUR AL-OULA FOR THE BUILDING, EXECUTION, OPERATION, MANAGEMENT AND MAINTENANCE OF THE FIRST PHASE OF AZ-ZOUR POWER PLANT K.S.C. (AZN1), a Kuwaiti company established by Sumitomo Corporation and other companies, to finance the Az-Zour North 1 IWPP Project*1. In this Project, AZN1 will build a combined-cycle natural gas-fired power and desalination plant, and sell the electricity and freshwater produced by the plant. As Kuwait’s first public-private partnership (PPP) power and seawater desalination plant project, there are high expectations of the project’s success, and it will contribute to further strengthening the comprehensive multi-layered relations between Japan and Kuwait.
- *1IWPP (Independent Water and Power Producer) is an independent company that builds and operates a power and water desalination plant on its own and sells the power and desalinated water it produces.