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Mon 4 Apr 2011 06:37 PM

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Kuwait eyes consultant for $25bn rail project

Consultant may be appointed within a month to conduct studies for metro system - gov't official

Kuwait eyes consultant for $25bn rail project
(AFP/Getty Images - for illustrative purposes only)

Kuwait may choose a consultant
in a month to study a rail project in the Gulf nation that may
cost as much as $25 billion, a government official said on Monday.

"A
consultant to conduct all feasibility studies for the metro project
prior to issuing a tender is currently being selected," Hashem
Altabtabaei, an official at the finance ministry and technical team
leader at the Partnerships Technical Bureau, said.

The bureau oversees the government’s public-private partnership program.

"The rough value for the project, including financing and risks, will be between KD3 billion to KD7 billion," he said.

Kuwait’s
parliament in February last year approved a KD30.8 billion ($111
billion), four-year development plan including investments to increase
oil and gas production and to build a rail network.

Kuwait is the
fifth-biggest producer in the Organisation of Petroleum Exporting
Countries and pumped 2.4 million barrels of oil a day in March,
according to Bloomberg data.

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