Kuwait is undertaking 38 large projects worth around 25.5 billion Kuwaiti Dinars ($87 billion) approved within the 2020-2021 fiscal year and previous budgets, a local newspaper reported on Wednesday.
About 44 percent of the projects are in the hydrocarbon sector, with a value of nearly 11.7 billion dinars ($38.6 billion), the Arabic language daily Alanba said, citing an official document.
Some of the projects are about to be completed, including a large petrochemical complex being constructed near Al-Zour oil refinery in South Kuwait, it said.
"Most of them are large projects and are intended to turn Kuwait into a financial and commercial centre and to diversify the economy," the report said.
Four of the projects are in partnership with the private sector and have a combined value of around 988 million dinars ($3.26 billion), it showed.
The projects also comprise a new airport terminal at a cost of 1.4 billion dinars ($4.6 billion), the report said, adding that it would be completed in Sept 2024.
Other projects cover health, education, power, water and housing including Al-Matla residential city at a cost of 2 billion dinars ($6.6 billion), which is scheduled to be completed in Sept 2023, the report said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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