Kuwait Local Time

Latest Kuwait News

Tender for construction of new terminal at International Airport

Kuwait will be launching an initial tender for construction of a second terminal at the international airport. The project will be worth about KD700 to KD800mn, revealed KUNA, the state-run news agency, early this week.


The project will be ready by 2016, as currently at least 16 international companies have expressed interest in the project. The first stages of tender will include work on the design and consultancy services. Meanwhile, tenders for the second phase will include construction likely to happen by mid-2013.


The Ministry expects the solar panels to contribute to at least 10percent of the energy supply of the terminal.


At recent times, any progress on this airport terminal project can be considered a welcome sign, indicating that Kuwait is well on its way to break down hurdles for foreign investment.


Further, the Parliamentary Committee has suggested that Kuwait should hold keep aside its laws on public tenders, and permit foreign companies to participate in biddings directly, without having the need for a local agent.


These suggestions have been included on the draft bill. This new rules will be applicable to oil companies, military-related contracts and services, while state-owned company tenders will be excluded.


During the past decade, Kuwait had already drawn $1.5bn in foreign investment, or 0.5percent of total Gulf inflows.

comments powered by Disqus

Recent Articles

New rule mandates recruitment of Kuwaitis in private sector

Issuance and renewal of driving licenses to go online soon

New rule mandates salary of KD500 or more for visit visas

Longest bridge in the world to be ready this year

Slashing of expat numbers likely to hit economic growth

New decision to stop expat transfer if job title does not match degree

Parents and In-laws allowed three months stay on visit visa

Indian Government defers pre-departure registration for ECNR passport holders

Kuwait plans to slash expat numbers

Kuwait CSC plans to replace expats with nationals in 3140 jobs

 

Top