September 19, 2020 real estate

Kuwait spearheading $10.4bn projects under 2019-20 plan


Kuwait has announced that the total number of projects included in the annual 2019-2020 development plan is 135 compared to 132 ventures in the 2018-2019 fiscal year.

The percentage of projects in the implementation phase for this year reached 50 per cent, reported Kuwait Times, citing a senior official.

Of these KD 3.2 billion ($10.4 billion) projects, around 40 percent are in line with the schedule, while 2 percent of the projects are ahead of schedule and 58 percent lag behind, stated Secretary General of the Supreme Council for Planning and Development (SCPD) Dr Khaled Mahdi.

Mahdi was speaking at press conference the General Secretariat of SCPD held recently to announce results of the annual plan follow-up report of 2019-2020 that ended on March 31.

On the completion rate of ventures, Mahdi said 67 of these projects are 50 per cent done, while 51 of them are 38 per cent over, 10 of them 7 per cent complete, four at 3 per cent and three projects at about two percent.

He pointed out that the Clean Fuels project was nearly 98.8 percent completed, while Al-Zour Refinery project work stood at 95.4 percent, Shagaya Renewable Energy Park project at 95.2 percent and Al-Mutlaa City project with 58 percent.

On the other projects, the top Kuwaiti official said the work on Mubarak Al Kabeer Port project had reached 52.7 per cent completion, Kuwait International Airport Terminal 2 project 35.1 per cent, Sabah Al Salem University City 54.8 percent and Al Sabah Hospital project work nearly 73 percent done.

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