Kuwait establishes Gulf alliance for power and water to manage Al-Zour North Plant
The company will be tasked with constructing, implementing, managing, operating, and maintaining the Al-Zour North Power and Water Desalination Plant, specifically Phases II and III.
Minister of Commerce Khalifa Al-Ajeel issued a ministerial decision to establish a Kuwaiti public shareholding company, the Gulf Alliance for Power and Water Company (K.S.C.P.C).
The company will be tasked with constructing, implementing, managing, operating, and maintaining the Al-Zour North Power and Water Desalination Plant, specifically Phases II and III.
The resolution sets the company’s authorized capital at 197.032 million dinars, with an equal issued capital, divided into 1.970 billion shares at a nominal value of 100 fils per share. The paid-up capital is set at 49.2 million dinars, reports Al-Rai daily.
Shareholding will be structured with 10% allocated to the Public-Private Partnership Authority on behalf of government entities, 40% to Al-Zour Kuwaiti Second and Third Holding Company (LLC) as investor shares, and 50% to Kuwaiti citizens through the Public-Private Partnership Authority.
The decision requires that the company’s establishment procedures comply with Companies Law No. 1 of 2016, its executive regulations, the Capital Markets Authority Law No. 7 of 2010, the Public-Private Partnership Law No. 116 of 2014, and all relevant laws, regulations, and resolutions.
The creation of the Gulf Alliance for Power and Water is a strategic step to ensure efficient management and operation of one of Kuwait’s largest energy and water infrastructure projects, supporting national energy security and sustainable water supply.
This initiative reflects Kuwait’s commitment to leveraging public-private partnerships to enhance critical infrastructure while promoting citizen participation in major national projects.
By establishing a dedicated company for the Al-Zour North Plant, authorities aim to streamline project oversight, optimize operational efficiency, and ensure the long-term reliability of both power generation and water desalination services.
