Kuwait aiming to resurrect stalled mega-projects
Five-year development plan includes airport and rail projects
The plan, which will also focus on economic reforms, was approved by the country’s cabinet but still needs to be passed by parliament, Hind Al-Subaih, Minister of Social Affairs and Labour and Minister of State for Development and Planning Affairs, told Arab Times.
Projects in the plan include the construction of a metro project and a (KWD 8bn) rail project to link the six partners of the Gulf Cooperation Council (GCC). Kuwait has already confirmed the network layout for its new $20bn metro, with construction is due to begin in 2017.
Other projects include a new terminal at Kuwait International Airport; a media city; further development of the Mubarak Al Kabeer Port on Boubiyan Island; Al Zour 2 power generation project; Al Zour refinery; establishment of a joint stock low-cost housing company; development of the Failaka Island; expansion of the sewage network; and a solid waste treatment facility in Kabd.
The plan also envisages the development of Madeenat Al Hareer (Silk City), a proposed 250km² urban area in the northern Subiya region. It will feature the Burj Mubarak Al Kabir tower, a nature reserve, a duty free area, a nearby airport, a large business centre and other facilities, said the report.
Kuwait’s oil sector is also set to see a series of refinery upgrades, as well as $35bn of investment in expanding oil and gas projects which was promised by The Kuwait National Petroleum Company’s (KNPC) chief executive Mohammed Ghazi al Mutairi recently.
Much of this will be spent on Kuwait's Clean Fuels Project (a major component of Kuwait's current development plans), which involves, the report said.
The development plan is also hoping to create around $28bn (KWD 8bn) worth of public-private partnerships (PPP) over the next five years.
Kuwait’s last five-year development plan saw only 57% of the allocated budget spent, the report said.