State-run Kuwait National Petroleum Co., or KNPC, expects to complete its new refinery and environmentally friendly fuel projects by 2017 and 2018 respectively, Kuwait-based Al Rai daily reports Wednesday citing an executive.

The two projects, which will be implemented simultaneously, will boost KNPC's refining capacity to 1.4 million barrels a day of crude oil, Fahd Al Adwa, the company's chairman and managing director, said according to the paper.

The new refinery will be located in Kuwait 's Al Zour region while the clean fuel project will involve a major upgrade of KNPC's existing refineries in Mina Abdullah and Mina Al Ahmadi, the daily cites him as saying.

KNPC currently has a third existing refinery located in the Shuaiba Industrial Area.

Mr. Adwa said earlier this year that the investment in the clean fuel and new refinery projects is expected to reach nearly 14 billion Kuwaiti dinars ($49.68 billion).

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