Friday, May 21, 2010

ABB unit wins $166 mln Kuwait oil pipeline deal

KUWAIT, (Reuters) - State-run Kuwait Oil Co has signed a 48.35 million dinar ($166.3 million) contract with a unit of Swiss engineering group ABB (ABBN.VX) to build a pipeline, the Kuwaiti company said.

The 123 km (77 mile) pipeline is part of plans to boost production from the Gulf Arab state's northern oilfields, it said on its website. (Reporting by Diana Elias; editing by Firouz Sedarat)

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