Kuwait’s spend on infrastructure projects is on target to more than triple this year, according to a new report released today.
“Total contractor awards are likely to increase massively from $1.8 billion in 2014 to $6.2bn in 2015 mainly due to the expected contractor award for the Kuwait airport project,” says the report Kuwait Infrastructure Sector 2015.
The report prepared by Ventures Middle East says infrastructure projects constituted 18% of the total construction projects in Kuwait as of June 2015.
The report has been prepared exclusively for The Big 5 Kuwait, which is at the Kuwait International Fair from September 14-16
Kuwait is undergoing a transformation, which has seen revisions to its bureaucracy and a relaxation of rules over foreign investment.
The report says: “Economic diversification will play a crucial role in future growth, as Kuwait gears up to be transformed into a financial and trade centre by 2035 under the Kuwait Development Plan (KDP).”
The report looks at the country’s new five-year development plan (2015-2020) with renewed commitment by the government to revive long-stalled mega strategic projects.
“In particular, bridges and transportation infrastructure is given a priority and driven by the government’s efforts to boost regional integration and reduce congestion on busy roads. The government plans to invest approximately $6.2bn in a series of motorway construction projects, including the Subiya causeway (estimated at $2.6bn).”
Ventures also examines each infrastructure sector and lists the key infrastructure projects in the country.
You can download the report direct: fill in the box on the right (below on mobile).
The Big 5 Kuwait at the Kuwait International Fair from September 14-16, 2015. More details of exhibiting and visiting HERE