India's TERI signed KD 10.9 million contract with KOC in soil treatment.

IIK

Tuesday, February 21, 2012

Kuwait Oil Company (KOC) has concluded three soil treatment contracts worth KD 45 million with three international companies.

One of the contracted worth KD 10.9 million was awarded to India's Energy and resource Institute (TERI).

The three contracts, which last for three years each, will be put in force concurrently; Kuwait's news agency reported quoting KOC Chairman and Managing Director Sami Al-Rushaid.

Under the contracts, the three companies will operate in line with conditions and terms set out by the KOC. The companies' operations will be restricted to soil treatment and rehabilitation in south and east Kuwait, news agency added.

Other two companies are Spain's HERA for a contract worth KD 16 million and South Korea's GS Engineering Construction Corporation for a contract valued at KD 18.5 million.

The Energy and Resources Institute, TERI was established in 1974 as a research institute based in New Delhi focusing its research activities in the fields of energy, environment and sustainable development. TERI was ranked 20 in the list of top global think tanks on environment and 16 in top global think tanks on science and technology.

More than 12 world companies had offered bids for the projects, but they were shortlisted to three, he said.

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