By Rupert Cornford
Three consortia will submit their bids today (Saturday 3 June) for a BOT contract to develop Failaka Island in Kuwait into a tourist hub
Three consortia will submit their bids for a US $2.7 billion (KWD800 million) BOT contract today (Saturday 3 June) to develop Failaka Island in Kuwait into a tourist hub.
The Mega Projects Development Agency, which is part of the Ministry of Public Works, has invited Kuwaiti developers to submit a BOT design financial proposal for the project.
This includes master planning for hotels, chalets, marinas, and the creation of a river to run through the island.
Kuwait-based architect and consultant, Gulf Consult, is part of one of the three consortia bidding for the project.
Jeff de Lange, deputy managing director, said: “In terms of developers, prequalification has taken well over a year, which has finally led to three consortia bidding.
“The three have been formed from about 20 who had originally prequalified for the job. These three then joined privately to form the mega consortia.”
Failaka Island lies 20km northeast of Kuwait City. It was invaded by Iraq in 1990 and still remains largely undeveloped apart from one recently constructed hotel.
The Failaka project itself has been divided in two. The first contract is to develop the island as a resort, and the second is the provision of power and water to serve it.
The winning consortia will have 10 years to build the project and 20 to operate it, before handing back the reins to the Kuwaiti government.