PROJECTS: Kuwait approves $65bln for projects in 2021-2022

$3.2 billion for partnership projects

  
An aerial view shows very little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. Image used for illustrative purpose.

An aerial view shows very little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

OPEC member Kuwait has approved 19.6 billion Kuwaiti dinars ($65 billion) for projects in fiscal year 2021-2022 and nearly 5 percent of them are based on partnership with the private sector, a local newspaper reported on Tuesday. 

The list comprises new projects and those which were launched a few years ago and are under way in stages, the Arabic language daily Alanba said, citing official data. 

They include 14 major public projects with a combined value of around 18 billion dinars ($59 billion) and 4 large partnership projects worth nearly 988 million dinars ($3.2 billion), the report said. 

The projects comprise mainly the airport expansion, the Silk City, island development, trans-Kuwait rail network and rail link with nearby Gulf countries,  Matla City, and the Clean Fuel Project, which has nearly been completed. 

The report showed nearly half the projects cover economic diversification while 16 percent involve infrastructure, and the rest cover health, environment , power and other sectors. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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© ZAWYA 2021


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