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Kuwait is set to spend around US$15.6bn (KD4.74bn) on infrastructure and other projects in financial year 2017-2018 with the private sector contributing 16.9 per cent of the investment
Kuwait are set to invest heavily on housing, roads, electricity, ports, airports, telecommunications and renewable energy, according to Arabic newspaper Al Anba, quoting Khaled Mahdi, the secretary general of the General Secretariat of the Supreme Council for Planning and Development.
The government will contribute 49.3 per cent of the investments, revealed Mahdi.
Around 33.8 per cent will be spent by the state-owned oil sector, while 16.9 per cent will be spent by the private sector within a public-private partnership (PPP) programme, he said.
“The 2017-18 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.
Amongst the strategic projects outlined in the development plan for 2017-18 are the Sabah Al-Salem University City; Zour refinery; clean energy; Kuwait Airport expansion, Terminal 2; Sheikh Jaber Al-Ahmad Bridge; South Al Mutlaa City; sewage treatment; New Sabah Hospital; new buildings at Farwaniya Hospital; a new building at Adan Hospital; Sheikh Saad Al Aballah Islamic Centre in Jahra; and Kuwait Centre for rare manuscripts and publications.