Kuwaiti projects to top $274bn in 2012 – report

Kuwaiti projects to top $274bn in 2012 – report

Kuwait will see 267 projects worth $274bn begin this year, a new report reveals.

Driving the growth in projects is the fast-paced population rises, robust economy and surging oil prices, the business intelligence firm CPH World Media has said.

According to the report, the Kuwaiti government is expected to invest $3bn into the building industry in the coming five years, while the value of private projects is expected to top $8bn.

Major developments which have already begun construction work include the $14bn Al-Zour refinery, the $3.3bn Failaka Island development, the $2bn planned expansion of Kuwait International Airport (KIA) and a major road development programme including the construction of an eighth ring road.

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