Devdiscourse
Development News Edition
Give Feedback
write for Us

Kuwait plans to set up USD 6.6 bln industrial city

The industrial city, to be located 70 kilometers (27 miles) west of the capital Kuwait City, will include industrial facilities as well as residential and leisure projects, Taqi said


Reuters
Updated: 21-03-2018 17:15 IST
Kuwait plans to set up USD 6.6 bln industrial city

The official said that infrastructure work for the project was expected to be completed by 2021. (Image Credit: Pixabay)

Kuwait's Public Authority for Industry (PAI) plans to set up a multi-purpose industrial city in the Gulf Arab state with total expected investments of USD 6.6 billion, an official said on Wednesday.

PAI Acting General Manager Abdulkareem Taqi told Reuters that the government would put in place the infrastructure for the city at an estimated cost of USD 600 million and would target around USD 6 billion in investments from the private sector to develop the bulk of the project.

The industrial city, to be located 70 kilometers (27 miles) west of the capital Kuwait City, will include industrial facilities as well as residential and leisure projects, Taqi said, adding that the city would be able to house 50,000 people.

The official said that infrastructure work for the project was expected to be completed by 2021.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


POST A COMMENT