Kuwait likely to see KWD 6.2bn projects in H1 – NBK

Kuwait likely to see KWD 6.2bn projects in H1 – NBK
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Mubasher: The first half of 2017 is likely to see a growing number of project awards, with a value exceeding KWD 6.2 billion ($20.3 billion), according to a report issued by the National Bank of Kuwait (NBK).

At net project value of KWD 806 million, Kuwait’s second largest independent water and power project (IWPP), Al Zour North 2 power and water desalination plant, is up for bidding in the first quarter.

“Al Zour North 3 and 4 will be gas-based as well and are expected to be awarded over the following two years,” the statement added.

The Kuwait Authority for Partnership Projects (KAPP) expects to award wastewater and solid waste management projects in the areas of Umm Al-Hayman and Kabd, with a combined value of KWD 775 million for two contracts.

NBK’s report said that the second quarter is foreseen to witness the awarding of a second major infrastructure works contract worth KWD 992 million for South Al Mutlaa City.

There are four major PPP projects worth a total of KWD 1.9 billion under evaluation, accounting for 20% of the KWD 30 billion development plan, NBK’s report said according to KAPP authorities.

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Source: Mubasher