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Project awards in Kuwait jumped 444 percent in the second quarter of 2024 to 688 million Kuwaiti dinars ($2.25 billion), following a lacklustre first quarter 2024, driven by infrastructure and electricity sectors, the National Bank of Kuwait (NBK) said in a report, citing MEED data.
Awarded projects included infrastructure in the South Sabah Al-Ahmad and affordable housing (Al-Nayeem area) cities.
The outlook for the second half of 2024 is positive, the report said.
Nearly KD7 billion worth of power-related potential projects are anticipated be awarded, which include KD1.2 billion Al-Zour Independent Water and Power Plant (IWPP) phases 2 & 3, KD 800 million Al-Khairan IWPP and KD 100 million Al-Shagaya Renewable Energy Complex, NBK said, citing MEED.
(Writing by P Deol; Editing by Anoop Menon)
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