ABB wins power orders worth US$160M in Kuwait

ABB, the leading power and automation technology group, has won orders worth about US$160 million from the Ministry of Electricity and Water (MEW) to construct substations that will help strengthen the country’s power grid and support its growing infrastructure. The orders were booked in the fourth quarter of 2013.

Kuwait has crude oil reserves in excess of 104 billion barrels accounting for around 10 percent of global reserves, the fourth largest in the world. As a result, the petroleum industry is the biggest contributor to the national economy, accounting for nearly half of the country’s Gross Domestic Product (GDP). The government is making significant investments to enhance its power infrastructure in order to support a planned expansion of crude oil production from the current level of about 2.9 million barrels per day (bpd) to 4 million bpd by 2020. These substations will reinforce the expansion of oil fields in the northern region of Rawdatain, and support Kuwait’s long term vision to position it as a regional trading and business hub.

“The need to build up reliable and efficient power infrastructure in regions like the Middle East is an important growth driver for ABB” said ABB CEO Ulrich Spiesshofer. “ABB has a proven track record in Kuwait and we are pleased to continue supporting the country’s growth and development, combining our global technology and engineering expertise with our strong local presence.”