KOC recently celebrated the laying of the foundation stone for the Small Boat Harbors Project which is being executed by the Turkish-based STFA Company.
The Turkish President Abdullah Gul and Minister of Oil and Minister of State for National Assembly Affairs Dr. Ali Al-Omair were present at the event.
CEO Hashem S. Hashem delivered a speech on the occasion and maintained that the Small Boat Harbors Project constitutes part of a broader project aimed at upgrading marine facilities. He further revealed that the total cost of the project is approximately $1 billion and that work is due to be completed by October 2016.
Meanwhile, STFA Chairman Alb Taskents expressed hope that the project would further boost the longstanding ties between the two countries.
[mappress]
Press Release, April 8, 2014