OPEC oil producer Kuwait has approved 35 projects with a combined value of around 15.6 billion Kuwaiti dinars ($51 billion) to be carried out within nine years to develop its infrastructure and other facilities, a newspaper reported on Tuesday.

Quoting informed sources, the Arabic language daily Alqabas said 29 projects worth nearly KWD7.6 billion ($25 billion) are expected to be completed by 2030.

Key projects cited by the report included:

  • Construction of around 9,800 houses with a value of about KWD1 billion ($3.3 billion)
  • Road development at a cost of nearly KWD417 million ($1.4 billion).
  • Construction of 111-km rail line to connect with the planned rail network in the six-nation Gulf Cooperation Council.

“One of the largest projects in this plan is the Mubarak Al-Kabeer Port, which is scheduled to be completed within four years…it is expected to cost nearly KWD990 million ($3.2 billion),” the paper said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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