Saturday, 3 November , 2018     |     842      |      +      |     

Kuwait seeks $59m for international advisor for railway project

Kuwait seeks $59m for international advisor for railway project : Google
  • Business

Kuwait’s Public Authority for Roads and Transportation has requested a “special budget” of KD 18 million ($59m) for an international advisor to help design the country’s railway project, according to a local media report.

The Kuwait Times reported that the authority’s Director General, Ahmad Al Hassan, has asked that the funding be made available during the next fiscal year.

The request is currently awaiting approval from Kuwait’s Finance Ministry.

The report added that the authority will begin work on the project as soon as the funding is approved.

Additionally, Mohammed Al-Zubi, the assistant director general for construction organisation and structural planning said that the special budget is necessary to fund the payments due for the company working on the design, operation and maintenance of the railway’s traffic monitoring system.

In August, it was reported that Work began on the 111-kilometre railway project connecting Kuwait with the rest of the Arabian Gulf region.

According to Kuwait’s Al Anba newspaper, the first phase of the project will create a new rail connection to Nuwaiseb on the Saudi border, as well as a 153km link between Kuwait City and Boubyan Port.

Citing senior officials, the newspaper said phase one will cost an estimated $3 billion. The estimated cost of the first phase is 900 million Dinars ($3 billion) at 2016 prices and construction is expected to take four to five years.

Kuwait Today Business Subscription

Category: #Business | 2018/11/03 latest update at 6:20 AM
Source : Arabian Business | Photocredit : Google
Comments Add comment

Latest Comments

  LinkedIn Gulf Media

Sponsored Publications

Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.

Latest searches in Kuwait Today