Kuwait to spend $15.6bn on infrastructure
Kuwait plans to spend $15.6bn on infrastructure and projects in fiscal year 2017-2018, local media reported
Kuwait plans to spend $15.6bn on infrastructure and projects in fiscal year 2017-2018, local media reported.
According to Arabic newspaper Al Anba, the private sector is expected to contribute 16.9% of the spend on projects across the housing, transport, electricity, ports, aviation, telecommunications and renewable energy sectors.
Dr Khaled Mahdi, the secretary general of the General Secretariat of the Supreme Council for Planning and Development was quoted as saying that the government will contribute 49.3% of the investments.
Around 33.8% will be spent by the state-owned oil sector, while 16.9% will be spent by the private sector within a public-private partnership (PPP) programme, he said.
“The 2017-2018 Development Plan, which is part of the second Five-Year Plan, includes projects intended to diversify the income sources, develop the tourism sector and increase investment flows,” he added.