A consortium composed of International Power of GDF Suez (17.5%), Sumitomo (17.5%) and A.H. Al Sagar & Brothers (5%) is the preferred bidder to take a 40 % stake in the project. The project is expected to be owned 10% by Kuwaiti public entities, 50% by Kuwaiti nationals (via an Initial Public Offering) and 40% by the consortium. The total project cost will be funded by a mix of project finance debt and equity in an approximate 80:20 ratio. In addition, International Power and Sumitomo anticipate establishing (on a 50:50 basis) the operation & maintenance (O&M) company for the Az Zour plant. The EPC contractors will be Hyundai Heavy Industries and SIDEM