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Kuwait-China construction ventures top $8bn in 2017

Wang Di, China's Ambassador to Kuwait, said the development marks the most lucrative deals that Beijing has forged with a Gulf country

Construction projects worth $8.2bn were implemented by Kuwait and China so far this year [representational image].
Construction projects worth $8.2bn were implemented by Kuwait and China so far this year [representational image].

The value of construction projects involving Kuwait and China this year is $8.2bn (KWD2.4bn).

Wang Di, China's Ambassador to Kuwait, said the development marks the most lucrative deals that Beijing has forged with a Gulf country. 

READ: Kuwait names US firm for Canada manufacturing plant design

Di said that trade between Kuwait and Beijing is worth $3.8bn (KWD1.2bn), while China has imported 4.7 tonnes of crude oil from Kuwait to date. 

The secretary-general of Kuwait's General Secretariat of the Supreme Council for Planning and Development, Dr Khaled Mahdi, said that Kuwaiti loans worth $825m (KWD248.8m) were given to China in 1982. 

These loans, Mahdi added, set in motion a string of 32 developments in Beijing. 

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Latest Issue

Construction Week - Issue 734
Mar 21, 2019