Kuwait is planning to build a giant economic city comprising more than 22,000 houses, hotels and other facilities at a cost of nearly one billion dinars ($3.3 billion), a newspaper in the oil-rich Gulf emirate reported on Friday.

The OPEC member is expected to invite bids for the project in the near future and it could be awarded to Chinese companies, the Arabic language daily Al-Qabas said.

The project, on the cards for many years, is located in Abdali area near the northern border with Iraq and an updated feasibility study is expected to be ready shortly, the paper said, quoting informed sources in the emirate.

“China might be contacted by Kuwait to discuss the execution of this large project as it has become ready to be offered to investors...priority is expected to be given to the Chinese side after the two countries signed MoUs for cooperation in free zones and economic cities similar to the one to be built in Abdali,” the report said.

The project, to be spread over an area of around 5 sq km, comprises nearly 22,000 houses accommodating over 35,000 people, besides roads and other infrastructure facilities, warehouses and logistics services, hotels, offices, schools, hospitals, parks, and areas for setting up small and medium industries, the paper said.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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