August 15, 2022 real estate

Jaber Bridge Islands development bidding date extended


KUWAIT CITY, Aug 14: The committee in charge of investing in Jaber Bridge decided to extend the bidding date in order to give more time for companies wishing to invest in the new project, after the committee sensed a reluctance by private sector companies to enter and invest in the project, reports Al- Qabas daily. The sources indicated that the bid that was put forward for nearly a year, specifically on September 26, 2021, saw only one company showing interest and hence postponed the bidding date in the belief other companies will come forward to and submit their bids.

The Cabinet had announced the launch of a public bid for the license to plan, develop, complete, operate, maintain, exploit and invest the Sheikh Jaber Al-Ahmad Al-Sabah Bridge axis sites, consisting of the northern and southern islands and the northern and southern banks for the benefit of the Public Authority for Roads and Land Transport, according to a number of specifications and conditions. The field was opened for those wishing to participate in the bidding starting from September 26, 2021 and the closing date was on March 17, 2022.

The sources added that the committee decided to extend the period of participation in the bidding to ensure the best financial and economic benefit from the completion of the project, which will only be achieved through competition from a good number of companies.

The Cabinet announcement revealed that companies wishing to purchase the bid documents must submit the following documents – a valid certificate from the Public Authority for Civil Information, a valid national labor percentage completion certificate, if the company is listed on the Kuwait Stock Exchange or owned by no less than 50% by the government of Kuwait, the registration certificate shall be submitted from the Ministry of Commerce and Industry and the Chamber of Commerce and Industry in the State of Kuwait and if the company is registered with the Direct Investment Promotion Authority, it must submit the investment license issued by the Authority. The sources said that a number of government investment agencies were invited to join the project.

arabtimesonline



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