Kuwait has allocated nearly 886 million Kuwaiti dinars ($2.9 billion) for 20 large projects, including airport expansions, in its current fiscal year, a newspaper said on Thursday.

The Arabic language daily Alqabas, quoting a government report, said the funds are among nearly KWD1 billion ($3.3 billion) allocated for development projects in fiscal 2023-2024, which started on 1 April.

The 20 projects include Kuwait’s airport expansion at a cost of around KWD158 million ($522 million), of which around 19 percent has been spent, the report said, adding that the project is expected to be completed in September 2024.

Other projects include Matla residential city, which received KWD143 million ($472 million) this year, and Al-Zour oil refinery with allocations of KWD85 million ($280 million).

The report said the remaining projects include Al-Sabah University, two other housing projects, Al-Addan Hospital, a new Medical City and Al-Shuaiba Port expansion.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.