A Kuwaiti company announced on Monday it has signed a contract for construction work at South Saad Al-Abdullah City in the outskirts of the capital Kuwait City.

Kuwait Company for Process Plant Construction and Contracting (KCPC) said in a local bourse statement that the contract’s value is around 89.6 million dinars ($295 million).

The project involves construction and maintenance works for the infrastructure in the outskirts of the capital as well as construction of irrigation water tanks and power sub-stations in South Saad Al-Abdullah City, it said.

The project, awarded by the Public Authority for Housing Welfare, will be completed within 1095 days and is expected to yield profits, which will be included in the Company’s financial reports, it added.

South Sandal-Abdullah is Kuwait’s first smart city and comprises nearly 24,500 houses that could accommodate 400,000 people.

(Reporting by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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