National Bank of Kuwait (NBK) issued a report that revealed the commitment of the Kuwaiti government to move forward with its development projects despite the drop in oil prices.
Whereas another report issued by Trade Arabia claimed that The Kuwaiti government awarded 4.6 billion dollar contracts during the first quarter of 2017 and is expected to award other contracts with the worth of 20 billion dollars by the end of the year.
According to (NBK) the largest of these developments is Gathering Center 32 which is worth 1.3 billion dollars and was awarded by KOC to Petrofac.
The project construction works will start very soon and it is scheduled for completion in mid-2020.
Some of the other awards during the first quarter included the expansion of Kuwait’s airport where the project is scheduled for completion by March 2020.