Kuwait has retendered the transaction advisory (TA) role in the country’s first utilities asset up for privatisation – the North Shuaiba power and water plant – fixing a submission date of September 26 for bid submission by financial advisory firms.

The project, being overseen by Kuwait’s Supreme Council for Privatisation (SCP), first saw tender documents for advisory roles issued in June last year and received bids for the financial advisory contract in December.

The North Shuaiba plant has an estimated value of about $1.2bn and the scope for its privatisation remains unchanged for the latest tender, sources with knowledge of the project were quoted as saying in media reports.