Tuesday 19 March 2019

Kuwait set to launch $72bn projects by 2019-end

KUWAIT, February 19, 2018

Kuwait is set to launch 20 major development projects worth KD21.7 billion ($71.6 billion), including a railway network project and waste management plant, as part of its 2018-2019 development plan, said a report.

Of these projects, Kuwait's massive hydrocarbons sector has the lion's share with a value of KD11.9 billion, accounting for nearly 55 per cent of the total, reported local Arabic language daily Al Nahar.

The oil sector's projects include the multi-billion-dollar Al-Zour refinery in South Kuwait, the clean fuels project which involves upgrading Kuwait's two main refineries, and a large petrochemical complex near Al Zour refinery, stated the report, citing a government report.

The transport sector is the second largest beneficiary with five projects with a combined value of KD4.49 billion, including Kuwait's international airport expansion, it said.

Four projects in the plan are joint public-private ventures sponsored by the Kuwait Authority for Partnership Projects including a rail network project, Al Jahra labour city and Kabd solid waste management plant, it added.

Tags: Kuwait | development projects | railway network |

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