KUWAIT: The PPP Authority referred the documents of the Um Al-Haiman sewage water treatment project to the Audit Bureau for auditing, said informed sources, noting that the project will be the largest of its kind in Kuwait. The sources added that the project’s documents will be reviewed by the Audit Bureau prior to establishing a shareholding company to build, operate and manage the project for 25 years, as agreed with MPW. The sources said PPP had selected a consortium led by Germany’s Wassertechnik GmbH, and includes International Financial Advisors to execute the extension of the plant. In addition, the sources said a contract will be signed in March between PPP and the winning consortium of a total cost of KD 1.1 billion, of which the state’s share will be KD 384 million.
MEW’s technical control manager Eqbal Al-Tayyar said that ministry is coordinating with the Housing Authority concerning building a smart and environment-friendly city in Southern Saad Al-Abdullah in collaboration with a Korean company. She added that a meeting was held to discuss providing the city with electricity and water supplies as well as building three centers – one for electricity, one for water and one for consumers’ affairs and payments.
During the second half of 2017, the Capital Markets Authority (CMA) intensified its inspection campaigns on various companies, which resulted in doubling the number of disciplinary measures taken against violating companies to 37, in addition to referring six other companies for prosecution over suspicions of criminal violation of CMA’s charter and regulations. According to reports, penalties imposed on violating companies varied between notices and fines of a total value of KD 230,000, compared to only KD 74,600 during the first half of the year.