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Kuwait’s Al-Na'ayem Industrial City project has reached 15 percent completion and is scheduled for handover in 2032, a local newspaper reported on Monday.
Al-Seyassah quoted officials as saying that the establishment, operation, and maintenance of the infrastructure for Al-Na'ayem Industrial City, which will operate under a BOT (Build-Operate-Transfer) system, will support the private sector across various industries in cooperation with the government.
This is particularly significant as the area will provide at least 1,800 industrial plots, along with all related services and economic facilities, the report noted.
It said the city will primarily rely on clean energy to minimise the negative environmental impact of the industrial sector and promote green manufacturing through a shift towards smart manufacturing, creating an attractive destination for industrial investments.
An official told the daily that Al-Na'ayem project was carefully located in the southwest of Jahra to accommodate diverse industries and support future expansion. This will benefit Kuwaiti industrialists by providing industrial plots, the official added.
He said the Kuwait Direct Investment Promotion Authority's (KDIPA) decision to launch this project is a sound initiative that supports the national economy, reduces the financial burden on the state, attracts foreign and domestic investments, and contributes to reducing the state budget deficit through revenue diversification.
“This major project contributes to eliminating environmental pollution through the use of smart technologies and devices in industries that rely on recycling waste of all kinds… it is a pioneering step by the Direct Investment Authority, especially since public-private partnership projects under the BOT system play an effective role in supporting the Kuwaiti economy,” he noted.
(Writing by N Saeed; Editing by Anoop Menon)
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