The head of Kuwait Ports Authority, Youssef Alabdullah Al Sabah, said on Monday that the authority will establish a new land port near Port of Shuaiba.
Alabdullah added that Al Shuaiba Land Port is structured to release the heavy pressure on Port of Shuaiba. The land port will rank the second biggest land port in the region after Riyadh according to Alabdullah as it will extend on 870 thousand square meters.
The authority intends to increase its capital from 65 million dinars to 200 million dinars. The capital growth will depend on the authority’s achieved revenues in the last few years.
The authority aims also to increase its annual revenues by more than double by 2019 to reach 200 million dinars instead of 80 million dinars in four years.
Youssef Alabdullah added in his statement yesterday that all growth plans will cost hundreds of millions of Kuwaiti dinars.