Kuwait expects to award projects worth nearly $155.5 billion covering construction, water, electricity, industry and communication, according to an official report. 

The OPEC member has already awarded projects to the private sector with a value of around $42.7 billion in those sectors as part of a strategy to encourage direct investment in the Gulf country, said the report by the Kuwait Direct Investment Promotion Authority (KDIPA). 

The report, published by the Kuwait Arabic language daily Alanba on Tuesday, showed construction would be the main beneficiary of projects in the next few years, with a total value of around $51.6 billion. 

Projects worth around $49.9 billion are expected to be awarded in the communication sector while projects will have a value of $33.8 billion in water and electricity and around $20.2 billion in energy and industry, the report showed. 

“Kuwait has allocated more than $100 billion to infrastructure projects alone for the next period as part of plans to create attractive business opportunities to local and foreign investors,” said the report, titled “Invest in Kuwait.” 

(Writing by Nadim Kawach; Editing by Anoop Menon)

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