Kuwait 'to award $24bn projects in 2014'
Kuwait City, November 26, 2013
More than $24 billion in contracts could be awarded next year in Kuwait, double the value as compared to this year, said a forecast.
Many of the opportunities will be found in Kuwait’s oil and gas sector, with EPC bids due to be submitted over the next three months for the two largest projects – the estimated $16 billion Clean Fuels Project (CFP) and the $7 billion Lower Fars heavy oil scheme, said Meed, organisers of Kuwait Projects 2013 conference, that concluded today (November 26) in Kuwait.
“Oil and gas is not the only sectors of interest. Kuwait is embarking on one of the region’s most ambitious hospital expansion programmes as it seeks to double the number of beds over the next decade,” Edmund O’ Sullivan, chairman, Meed Events.
“In education, construction work is ongoing on the $3 billion-plus Sabah Al-Salem new university campus, which is one of the most modern and largest campuses in the world when it is completed,” he said.
Transport is another sector of focus, where tenders will be issued soon for the long-awaited $3.2 billion new Kuwait International Airport terminal, while there are long-term ambitions for a multi-billion-dollar rail and metro network, added O’ Sullivan.
Through the Partnerships Technical Bureau, which is responsible for the state’s public private partnerships (PPP) programme, work is set to start on the first integrated water power plat (IWPP) at Al-Zour North.
The $2.5 billion project will be a pioneer for a raft of other upcoming PPP projects including the $1.5 billion Umm Al-Hayman wastewater treatment plant and further IWPPs at Khairan and Al-Zour.
Over the long-term, over $100 billion worth of contracts will be awarded and implemented, said the organiser. - TradeArabia News Service