Business

MEW secures SAB approval for KD169mn GCCIA power import

Published

4 hours ago

July 17, 2025

admin

KUWAIT CITY, July 17: The total amount for which the Ministry of Electricity, Water and Renewable Energy obtained conditional approval from the State Audit Bureau (SAB) to contract for the import of electricity from the Gulf Cooperation Council Interconnection Authority (GCCIA) reached KD169.126 million over nine months — from April to December.

According to reliable sources, the ministry got approval for the import in April, amounting to KD2.641 million, two approvals in May the first for KD1.756 million and the second for KD3.348 million, in addition to an approval from June until December for KD161.381 million. Sources indicated that the energy import is through the coordinated efforts of the ministry and GCCIA to support the grid, maintain the stability of the electrical system during summer, and avoid resorting to scheduled power outages as much as possible, given the increased loads resulting from high temperatures and increased consumption rates in summer.

Sources disclosed that the ministry utilized the GCCIA as one of the solutions to address the energy crisis until production rates increase and new projects are implemented shortly. Sources said these projects include the installation of gas turbine units operating on a combined cycle system to increase power production at Al-Subiya power station by 900 megawatts, indicating the ministry is racing against time to complete the fourth phase that includes the tender, award, contracting, and implementation procedures.

By Mohammad Ghanem
Al-Seyassah/Arab Times Staff

Related Topics:approval GCCIA import KD169mn MEW power SAB secures

Up Next

Jahra Council greenlights KOTC LNG water pipeline

Don't Miss

Boursa Kuwait posts solid gains amid heavy volume

Click to comment

Business

Kuwait unveils e-tax platform | arabtimes

Published

2 hours ago

July 17, 2025

admin

KUWAIT CITY, July 17: The Ministry of Finance announced the launch of an online registration service for companies subject to the Multinational Entities Tax Law through its official website. This service falls within the framework of the ministry’s commitment to implementing the provisions of Law No. 157/2024 and advancing digital transformation in service delivery. It is designed to streamline the registration process for companies subject to the law, per Article 75 “Self-Registration of the Taxpayer” of the law’s executive regulations. This service allows companies to complete the registration process electronically through the Ministry of Finance’s official website by following these steps:

1. Visit the Ministry of Finance website at www.mof.gov.kw.

2. From the main menu, select “Corporate and Institutional Tax,” or choose “Electronic Tax Services” from the list of e-services. This will direct you to www. mof.gov.kw/TCRS_Public

3. Log in using your existing username and password, or click on “Create Account” if you do not have one.

4. Once logged in, select the desired service and submit your registration request.

It is worth noting that the Ministry of Finance reaffirms its commitment to developing the digital services system, which helps enhance institutional efficiency and improve compliance with tax legislation in the State of Kuwait. (KUNA)

Business

Jahra Council greenlights KOTC LNG water pipeline

Published

3 hours ago

July 17, 2025

admin

KUWAIT CITY, July 17: The Jahra Governorate Committee at the Municipal Council, chaired by Abdullah Al-Enezi, on Wednesday approved the request of the Ministry of Electricity, Water and Renewable Energy to allocate a freshwater route to feed the liquefied natural gas (LNG) plant of Kuwait Oil Tankers Company (KOTC) in Umm Al-Aish. During the meeting, the committee also approved the following:

Request of one of the companies that own plots 42 and 48 in Jahra Administrative and Commercial Center (Block 93) to change the height of the pedestrian bridge linking the two plots from six meters to 4.8 meters above ground level;
Request of the Public Authority for Agriculture Affairs and Fish Resources (PAAAFR) to allocate an alternative site for Naif Poultry Company in Sulaibiya Agricultural Area. In addition, the committee referred to the executive authority the request of the Ministry of Health to change the use of the site of the pest control center in Jahra to become a kidney dialysis center, with the amendment of its borders and the expansion of its area; as well as the letter of Jahra Governor Hamad Al-Habashi regarding the allocation of land to establish a walkway, for further study and to present its technical opinion on these requests.

By Inaas Awadh
Al-Seyassah/Arab Times Staff

Business

Boursa Kuwait posts solid gains amid heavy volume

Published

5 hours ago

July 17, 2025

admin

KUWAIT CITY, July 17: Boursa Kuwait finished Thursday’s trading session in positive territory, with the general index climbing 70.42 points, or 0.83 percent, to settle at 8,598.42. Trading remained robust, as 819.3 million shares were exchanged across 40,798 cash transactions, generating a turnover of 136.7 million Kuwaiti dinars (approximately $447.1 million). The Main Market Index advanced 52.87 points, or 0.71 percent, to close at 7,452.38, supported by a brisk trading volume of 670.1 million shares via 31,178 transactions and a traded value of 80.2 million dinars (around $262.3 million).

Meanwhile, the Premier Market Index saw an increase of 78.28 points, or 0.85 percent, closing at 9,309.26. The segment recorded a trading volume of 149.1 million shares through 9,620 transactions, with a turnover of 56.4 million dinars (about $184.5 million). In parallel, the Main 50 Index rose 27.92 points, or 0.38 percent, to stand at 7,452.03. A total of 377.7 million shares changed hands through 14,679 cash transactions totaling 44 million dinars (approximately $143.9 million).(KUNA)