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Kuwait's KOTC says in $700 Million Daewoo Tanker Deal - ASHARQ AL-AWSAT English Archive
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KUWAIT, (Reuters) – State-owned Kuwait Oil Tanker Co (KOTC) has signed a letter of intent with South Korea’s Daewoo Engineering & Construction to build four very large crude carriers for $700 million, KOTC’s chairman said on Monday.

“The final contract will be signed on August 21,” Nabil Bouresli told Reuters, adding that the tankers would be delivered at the end of 2011 as part of a fleet renewal plan.

He added that the firm would also announce in mid-September the winner of a tender to build two tankers for petroleum products.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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