From the Newsroom
São Paulo – Kuwait has allocated some KWD 19.6 billion (USD 65.1 billion) covering 19 strategic projects during the current annual development plan, Kuwaiti newspaper Al-Anba reported. Diversified and sustainable economy projects account for almost half of the spending.
The newspaper catalogued progress on ten major projects, most notably the eastern runway at the international airport, the Sabah Al-Salem Kuwait University City, the Kuwait Airport expansion, the Al-Mutlaa residential city project, and the railway network project.
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The Ministry of Health is also adding new buildings to both Farwaniya Hospital and Al-Adan Hospital as well the new Al-Sabah Hospital project. In the energy sector, Kuwait Petroleum Corporation (KPC) is spearheading the Clean Fuels project and the Al-Zour Refinery, which are both in the final delivery stage.
Kuwait and other Gulf states are seeking to encourage the use of private finance to help fund major infrastructure projects in an effort to free up more funds.
*With information from Saudi newspaper Arab News.
Translated by Guilherme Miranda