Rain Calcining (RCL) has decided to invest in a new greenfield calciner project in Kuwait.

The calciner is being developed and implemented by Petroleum Coke Inds Co (PCIC) in Kuwait in consortium with a group of Kuwaiti companies - Al-Mal and A H Al-Sagar - US-based, Oxbow Carbon & Minerals LLC.

Construction rights for the Kuwait calciner have been awarded to PCIC through a bid process administered by Kuwait Petroleum Corporation. The concession period is 22 years.

Kuwait Petroleum Corp will provide the entire raw material required for the calciner at an indexed price during the concession period. On completion, the Kuwait calciner will have a capacity of 3,50,000 tonnes per annum.

RCL will have an 11.5-per cent equity stake in PCIC. The company, along with Oxbow, will have the exclusive operating and maintenance contract and also the marketing contract for the finished product, calcined petroleum coke.

Construction will begin in the third quarter of 2005 and be completed in 16 months. The O&M agreement with PCIC and a shareholders agreement with the consortium members has already been signed.

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RCL plans expansion, bags overseas order (17-Jul-04)