Tuesday, 21 June , 2016     |     1683      |      +      |     

Salini consortium inks $955m Kuwait housing deal

Salini consortium inks $955m Kuwait housing deal :

A consortium led by Salini Impregilo, an Italian industrial group specialising in the construction and civil engineering business, has won a $955m contract from Kuwait government to develop an urban residential development on a 12,000ha area.

The contract, awarded by Kuwait’s Public Authority for Housing Welfare, is part of the South Al Mutlaa Housing Project located 40 km northwest of Kuwait City.

As per the deal, the Salini Impregilo consortium will have a 55% stake in the upcoming project.

Once completed, the new city will house 400,000 residents who will enjoy the most modern housing and logistical services, public and commercial areas, hospitals, schools and social services.

The scope of work includes construction of 150km of roads and related structures and numerous art works, lighting infrastructure, water distribution, rain-water gathering and sewage systems, and other civil works necessary for the distribution of electricity, installation of telecommunications networks and traffic control.

The Kuwaiti parliament has approved a 2015-2020 development plan envisages investments totaling more than $100bn in infrastructure projects in the country, including the construction of thousands of homes, metro and railway networks and new refineries and industrial facilities.


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Category: #Kuwait News | 2016/06/21 latest update at 10:30 PM
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