Kuwait minister to help Northern Gulf Gateway megaproject
Kuwait could launch dozens of megaprojects this year, according to the Supreme Council for Planning and Development
Kuwait’s deputy prime minister has expressed enthusiasm for the Northern Gulf Gateway megaproject that could pump $220bn (KWD60bn) into the economy.
Sheikh Nasser Sabah Al-Ahmad Al-Sabah, First Deputy Prime Minister and Minister of Defence, said he wanted to work socially and politically with the Northern Gulf Gateway and Silk City megaprojects.
In a meeting this month, Sheikh Nasser said Kuwait wanted to link central Asia, southern Russia, Mongolia and other Asian countries with its Silk City project that, he said, would also benefit the Arab Gulf states.
The project will see Kuwait develop its northern region to build stronger trading relationships with its neighbours.
It will link up with China’s trillion-dollar One Belt, One Road initiative. Kuwait has already held talks with the Asian superpower about construction, energy, infrastructure, and mass communication projects linked to the One Belt, One Road initiative.
Sheikh Nasser said this week that the Silk City development project would help attract up to $400bn (KWD121bn) of direct foreign investment into Kuwait.
Another development project making progress is the 36km Sheikh Jaber Causeway, which will link Al-Sabiya City with Silk City. The cable-stayed bridge is a crucial component of Kuwait's 2035 Vision strategy, and is said to be one of the longest cross-sea bridges in the world. It is due to be completed this year, and is one of dozens of megaprojects in Kuwait.
Earlier this month, a plan to launch no fewer than 82 megaprojects was revealed by the Secretary-General of the Supreme Council for Planning and Development (SCPD), Adel Al-Wugayan, according to the Kuwait News Agency.
While he did not disclose any of the projects by name, value or type, he said the SCPD had taken steps to encourage the private sector to work with the government on infrastructure construction projects.