Privatization
During 2002 and 2003, incentives were introduced in preparation for KESC’s privatization, which eventually finalized on 29 November 2005 with a 71% transfer of ownership to a consortium of the Saudi Al-Jomaih Group of Companies and Kuwait’s National Industries Group (NIG), with the government still retaining a 26% stake. The privatized consortium was unable to improve the Company’s financial and operational crisis.
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