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Tue 24 Nov 2009 07:29 AM

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Kuwait eyes $8.7bn development projects

Senior gov't official says tenders for new schemes will be put out before April 2010.

The Kuwaiti government is planning to execute new development projects worth $8.7bn, a senior official has announced.

Deputy Prime Minister and Minister of State for Development and Housing Affairs, Sheikh Ahmad Fahad Al-Sabah, said the projects were part of a group of tenders to be put out between November and April 2010.

The minister made the announcement during a meeting with members of the Kuwait Chamber of Commerce and Industry, KUNA News Agency reported.

The key projects will include a new bridge called Jaber Bridge and a new hospital called Jaber Hospital, three berths at the Bobyan Port and three housing cities, the minister's information office quoted him as saying.

In addition, three new cities are to be built at a total cost of KD 500-600 million, together with three giant projects costing KD2 billion, he said.

The minister said Kuwait "boasted financial solvency, legislative and institutional structure and monetary flow, together with many other positive matters in spite of the current world economic circumstances".

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