Kuwait Finalizes Major Agreement with China for Mubarak Al-Kabeer Port

Post by : Mara Rahim

Kuwait is set to finalize a crucial agreement next week with China Communications Construction Company aimed at advancing the Mubarak Al-Kabeer Port project, as announced by Public Works Minister Noura Al-Mashaan. The signing ceremony is anticipated to include Kuwait’s prime minister alongside representatives from the Chinese delegation, highlighting the significance of this contract.

The contract encompasses engineering, procurement, and construction operations for the initial phase of the port. With a total contract value of approximately 1.219 billion Kuwaiti dinars, this marks one of the nation’s largest infrastructure projects.

Strategically located on Bubiyan Island in northern Kuwait, the Mubarak Al-Kabeer Port is deemed a national project of critical importance. The initiative aims to establish a reliable regional trade corridor and elevate Kuwait’s profile as a central commercial hub. China has expressed interest in integrating the port into its Belt and Road Initiative, promoting global trade connections.

Kuwaiti officials are optimistic that the port will aid in diversifying the economy, bolstering GDP growth, and reaffirming Kuwait’s role in regional commerce and finance. Although nearly half of the initial phase is reported to be completed, further specifics regarding the outstanding work remain undisclosed.

This port initiative is part of multiple extensive projects that Kuwait is pursuing with Chinese collaboration, which includes ventures in power, water plants, renewable energy development, waste recycling systems, and the establishment of new residential areas. The partnership between Kuwait and China has strengthened significantly since the signing of various agreements in 2023, underscoring a deeper economic collaboration.

#Business News #GCC News #Gulf News #Kuwait News