Kuwait to raise money to improve airport and infrastructure
Kuwait is late to the game when it comes to its regional neighbors, but its ambitions to double the number of passengers recognizes the challenges it has ahead to catch up.
Excerpt from Bloomberg
Kuwait plans to offer a contract to build a new airport terminal at an estimated cost of 900 million dinars ($3.2 billion), Public Works Ministry Undersecretary Abdul Aziz Al-Kulaib said in an interview today.
The project is part of the country’s $110 billion development plan to modernize and diversify Kuwait’s oil-reliant economy. Other projects include building a subway and rail network, new power stations, hospitals, roads and a port on Boubyan Island.
The Ministry of Public Works plans to spend about 4 billion dinars on road projects over the next five years, the ministry’s assistant undersecretary for Roads Administration, Saud Al-Naki, said today in an interview. That will include “introducing two interchanges” on a main highway leading to Kuwait International Airport to serve the new terminal, Al-Naki said.