Kuwaiti construction contracts to reach $17.5bn by end of 2014

According to a report by economic consultant Ventures Middle East, the total value of construction contracts put out to tender in Kuwait will reach $17.5bn by the end of this year, almost twice the the $9.8bn total reached in 2011. 

The increase in contract revenue is due to large-scale infrastructure projects such as a $7bn metro contract for Kuwait City that is presently in the design stage. This 160km project will include three lines and 69 stations, and will be 65% underground. 

Another $10bn of investment is accounted for by the Kuwait National Rail Road System project. This will consist of a 511km integrated network, for which the design, budget and tendering processes are being finalised. 

A $700m Kuwait International Airport redevelopment project will also help to boost the economy. It involves the improvement of airport buildings and the enhancement of other facilities such as fire stations, rescue centres and service roads. It hopes to boost the annual capacity of the airport to 20 million customers.

It was announced earlier this year that the US government is to build a $1.7bn military hospital in Kuwait.

Story for GCR? Get in touch via email: [email protected]

Latest articles in News