Kuwait to approve $3.9bn development projectsby Paromita Dey on Mar 7, 2016
Kuwait's Ministry of Finance and State Audit Bureau are expected to approve several development projects with an estimated total cost of $3.2bn (KDR1.2bn), according to reports.
As per local daily Al-Qabas, sources revealed these projects include the improvement of roads and infrastructure by the Public Authority for Housing Welfare (PAHW), in addition to Metla’a Housing City and Al-Ghos Team.
Meanwhile, Ministry of Public Works has started work on the construction, completion and maintenance of roads and bridges along the road linking Sabah Al-Ahmad City to Khairan Residential City, as part of the major projects estimated at $151m (KDR45.7m).
Assistant undersecretary for road engineering at the Ministry of Public Works, Eng Ahmad Al-Hessan said: "The sector is ready to start execution of the project. Other relevant service authorities are being carried along to ensure smooth take off and quick execution of the project. The project was designed to match international standards, indicating it is of six phases that include three ongoing phases and three other new phases, which are all 130km long."
In another development, Kuwait Petroleum Corporation (KPC) signed an agreement with Total Company to provide technical services required by Kuwait Oil Company (KOC) and employees with vast experience.
Sources disclosed the contract includes the appointment of 15 experts for developing the strategy of KOC — four for the northern oilfields, three for providing assistance in the implementation of the first phase of the oilfields development project which aims to produce 60,000 barrels daily, three for fencing, one for planning, three for digging and one for exploration.
- Dubai: 149 nationalities invests $15bn in H1 2016
- Hill wins $13m hospital contracts in Kuwait
- Kuwait approves land for Jazeera Airways building
- Sohar Industrial's $51m Phase 7 works 30% complete
- Penspen, Dar Al Handasah win Kuwait pipeline deal
- Kalmar to supply tractors to Khalifa Port Terminal
- Levitating pods to revolutionise UAE transport
- Kuwait residential market posts good growth in May
- Kuwait finance minister speaks out on Brexit
- Two-for-one offer on CW digital subscriptions