Kuwait is expected in early 2024 to award a consultancy contract for the design and feasibility study for a $6.6 billion industrial zone, a newspaper said on Wednesday.

Al-Naayem Industrial Zone, located in Western Kuwait, will be one of the largest partnership projects in the OPEC member and is designed to attract industrial capital with the aim of diversifying the oil-reliant economy, Alqabas said.

It quoted official sources as saying the contract for the “feasibility study, design and master plan” for the 6 sq km zone could be awarded in the first quarter of 2024 and that the main project would be tendered and awarded in the second quarter.

The Public Authority for Industry will award the project on a BOT (build, operate, transfer) basis and it will be completed within 730 days, the report said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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