Kuwait Mega Projects
ANNEX A
Kuwait Mega Projects 2010-2014
Kuwait Five-Year Plan Overview:
Finally and in a move described as historic, the Kuwaiti national assembly initially approved the development plan up to 2013/14 –the first plan since 1986. This is a move that almost everybody was calling for to revive the Kuwaiti economy facing recessionary pressures since September 2008. The plan, which includes a total of 1,100 projects among them lots of Mega Projects, was approved with estimated KD37bn (US$125bn) of spending focusing on both oil and non oil economic sectors.
Kuwait has announced spending in the 2010/2011 fiscal year about 16 billion Kuwaiti dinars ($55.6 billion), and it will base its 2010/2011 budget on an oil price of $43 a barrel.
The plan aims at decreasing the country’s dependence on oil but also to includes investment on raisingoil and natural gas production, it aims as well for turning Kuwait into a regional trade and financial hub through sustaining economic development, economic diversification and GDP growth. Private sector will be involved in such projects mainly through BOT schemes. Consequently, banking sector will have the appetite to provide credit lines for such projects as long as government support is there. This will have its direct positive impact hand in hand with the expansionary monetary policy to increase liquidity. Due to Kuwaiti law regarding property development, all of these projects will follow the build-operate-transfer (BOT) model, thus allowing the private sector to become more involved in the ongoing development of Kuwait. While the BOTs are currently operating in a 20-year timeframe, the government is examining regulations with an eye to making them more flexible.
The Mega Projects Agency (MPA), the executive arm of the Kuwaiti Ministry of Public Works leads the charge to design and implement most of the country 's infrastructure projects.
The plan includes lots of Mega Projects to be implemented in the next five years: - The new
Kuwait Mega Projects 2010-2014
Kuwait Five-Year Plan Overview:
Finally and in a move described as historic, the Kuwaiti national assembly initially approved the development plan up to 2013/14 –the first plan since 1986. This is a move that almost everybody was calling for to revive the Kuwaiti economy facing recessionary pressures since September 2008. The plan, which includes a total of 1,100 projects among them lots of Mega Projects, was approved with estimated KD37bn (US$125bn) of spending focusing on both oil and non oil economic sectors.
Kuwait has announced spending in the 2010/2011 fiscal year about 16 billion Kuwaiti dinars ($55.6 billion), and it will base its 2010/2011 budget on an oil price of $43 a barrel.
The plan aims at decreasing the country’s dependence on oil but also to includes investment on raisingoil and natural gas production, it aims as well for turning Kuwait into a regional trade and financial hub through sustaining economic development, economic diversification and GDP growth. Private sector will be involved in such projects mainly through BOT schemes. Consequently, banking sector will have the appetite to provide credit lines for such projects as long as government support is there. This will have its direct positive impact hand in hand with the expansionary monetary policy to increase liquidity. Due to Kuwaiti law regarding property development, all of these projects will follow the build-operate-transfer (BOT) model, thus allowing the private sector to become more involved in the ongoing development of Kuwait. While the BOTs are currently operating in a 20-year timeframe, the government is examining regulations with an eye to making them more flexible.
The Mega Projects Agency (MPA), the executive arm of the Kuwaiti Ministry of Public Works leads the charge to design and implement most of the country 's infrastructure projects.
The plan includes lots of Mega Projects to be implemented in the next five years: - The new
References: P.O. Box 23385, Safat 13094, 13094, Kuwait Tel: +965 2530-1000 | Fax: +965 2538-7464 | Email: webmaster@housing.gov.kw | Website: http://www.housing.gov.kw Tel:+9652- 530-1000 (ext: 1364) Tenders info: http://www.housing.gov.kw/showContents.asp?id=2&node=Projects TENDER LISTINGS1/2 Sabah Al Salem Campus Country: Kuwait Closes: Feb 11, 2010 Category: Buildings Issuer: Central Tenders Committee WDC in Mina Abdullah - Phase 2 Country: Kuwait Closes: Feb 16, 2010 Category: Power & Water Feb 16, 2010 Category: Power & Water Maintenance Services for Roads in Al-Farwaniyah Zone Country: Kuwait Closes: Feb 21, 2010 Category: Infrastructure Issuer: Central Tenders Committee Maintenance Services for Roads in Mubark Al-Kabeer Zone Country: Kuwait Closes: Feb 21, 2010 Annual Refurbishment of Ministry of Social Affairs and Labours Properties Country: Kuwait Closes: Mar 2, 2010 Category: Infrastructure Mar 7, 2010 Category: Power & Water Issuer: Central Tenders Committee Maintenance Works for Building of Ministry of Health in Sulaibikhat Country: Kuwait Closes: Mar 7, 2010 Closes: Closes: Feb 21, 2010 Closes: TENDER LISTINGS 2/2 Al-Zour Desalination Plant - Phase 2 Country: Kuwait Closes: Mar 9, 2010 Category: Power & Water