Seven Kuwaiti projects amongst the biggest in the Gulf

KUWAIT: MEED business magazine has announced that Kuwait is participating in seven mega projects, at the approximate cost of 35.42 billion Kuwaiti dinars (123.6 billion US dollars), which are led by the Silk City project at the cost of KD 22.1 billion ($77 billion) alone.

Silk City is one of the first 100 projects by Gulf Cooperation Council (GCC) states, which contributes in almost 50 percent of total projects in the region. These projects will result in the change of the outlook of the Middle East, and they will also bolster support and set the basis of economic growth in all the countries in the region.

MEED stated in a report that the King Abdullah Economic City project, which stands at a budget of KD 26.71 billion ($93 billion) is the largest of all projects and that it is expected to be accomplished by the last quarter of 2029.

It is noticeable that the United Arab Emirates (UAE) has the largest share in the number of planned projects, although some of them were stalled or temporary suspended due current economic circumstances, especially when these projects have reached different phases of execution. Saudi Arabia came first in the number of projects being executed, which serves the kingdom in achieving its objective toward diversifying its economy.

These are several projects are funded by a partnership including all GCC states by different percentages, such as a railway project connecting GCC states and the project of combined electricity power.

 

No. Projects Priority rank in the list of 100 projects Cost in $ billion
1 Silk City 2 77
2 The Fourth Refinery 19 15
3 Al-Zour Electricity Power Station  8.4 49 8.4
4 Kuwait Transit City 61 7
5 Boubyan Island 75 6
6 Sabah Al-Salem University 84 5.2
7 Sabah Al-Salem Area 87 5