Kuwait negotiating with lenders for $5.6 billion biofuel complex

In Kuwait, the country’s national petroleum agency is negotiating with agencies in Korea, Japan, Britain, Holland, and Italy as well as 20 international banks to fund a $5.6 billion biofuel plant. Between three and five banks will be the ultimate lenders for the project that should be online by the end of 2018. Spanish company Tecnicas Reunidas has been commissioned to build the plant who will be paid $1.4 billion for the project. As many as 40,000 workers have been required to build the plant.