Kuwait Local Time

Latest Kuwait News

Kuwait joins GCC construction boom with $24bn worth projects

More than $24bn contracts may be awarded to Kuwait next year, which is double the value of contracts this year, say analysts.

Several of the opportunities will be in the oil and gas sector, with EPC bids due to be submitted over the next quarter for two largest projects – the $16bn Clean Fuels Project and the $7bn Lower Fars heavy oil scheme.

Oil and gas are not the only sectors of interest. Kuwait is also embarking on one of the most ambitious hospital expansion programmes, and aims to double the number of beds over the next decade.

In the field of Education and Construction, work is underway on the $3billion Sabal Al-Salem, the new university campus, which is also one of the most modern and largest campuses in the world, when completed.

Another focus is the transport sector, wherein tenders will be issued for the much awaited $3.2bn new Kuwait International Airport terminal. Another major project in progress is the on-going $7bn metro project in Kuwait City, due to be ready by 2020. Kuwait also plans to invest around $6.2bn in a series of motorway construction projects with approximate length of 550km by 2015.

Work is likely to begin on the first integrated water power plant (IWPP) at Al-Zour North, through the Partnerships Technical Bureau, responsible for state’s public private partnership programme. The $2.5bn project will be lead for the other upcoming PPP projects, including the $1.5bn Umm al-Hayman wastewater treatment plant and other IWPPs at Khairan and Al-Zour.

Another major project is the development of $2.6bn Subiya Causeway, the 37.5km bridge, crossing Kuwait Bay, which links Kuwait City with Subiya Peninsula and Boubyan Island.

With such robust infrastructure investment plans, the demand for cement is also likely to shoot up. Moreover, with all these projects in hand, Kuwait is in-line to join the GCC construction boom, wherein, more than $188bn worth projects are already underway.

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