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EXISTING PROJECTS
KUWAIT NATIONAL LUBE OIL MANUFACTURING CO. ( KNLC)
ALFARABI, a part of a consortium, has successfully won the bid for one of the biggest projects that had 14 companies competing for Lube Oil Blending Plant, where a new company being incorporated with the capital of - KD 7.5 million. It is the first fruits of corporate projects based on privatization program from KNPC.
SHAREHOLDERS:
- AlFarabi Investment Co. 30%
- Sayer Al Sayer Enterprise. 30%
- Arabi Enertech 12%
- Univest Investment 15%
- Al-Maousherji Group 10%
- Mr. Hamed Al-Bassam 3%
BRIEF OF THE PLANT:
- Current Products: Lubricating oil for Vehicles and Turbines
- Purchasing price: $73 million
- 2003 Turnover: $16.5 million
- 2003 Net profit: $5 million
- Location: KNPC Shuaiba Industrial Area (Industrial Land Leased by PAI)
- Production Capacity : 28000 Metric Tons (3 Shifts)
- Technical Support: Kuwait National Petroleum Co./ Research & Technology
ALFARABI INVESTMENT IN THE PLANT:
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Year 1 |
Year 2 |
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30% |
30% |
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Balance Sheet ( K D : Thousand) |
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Alfarabi’s Investments in the Project
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