A report issued by KFH-Research on Tuesday noted that the projects’ market in Kuwait witnesses a new dawn through the launch of numerous infrastructure and construction projects, such as environmental fuel projects w
orth USD 12 billion, in addition to other mega projects in the fields of roads and bridges, including Al-Sabbiya Bridge and Kuwait Metro projects.
For much of the past decade, international companies operating in the major projects sector have found Kuwait a challenging market in which to do business, said the report.
However, the report added, there are good reasons to believe this year will be different with the new parliament. The significance of this change in Kuwait’s political landscape for the projects market was confirmed on 10 February 2014, when the Central Tenders Committee confirmed the award of three engineering, procurement and construction (EPC) deals worth a combined USD 12bln for the long delayed Clean Fuel Projects (CFP). As well as including the single biggest oil and gas EPC contract awarded in the GCC, the CFP awards is a sign that Kuwait is back in business, concluded the report.
Source : KUNA Kuwait News agency
