(MENAFN– Al-Anbaa)
Mahmoud Issa
The latest data issued by MEED Projects magazine, which tracks project activity in the Middle East and North Africa region – MENA – showed that Kuwait has $198.4 billion worth of active projects, of which projects worth $169 billion are in the pre-implementation stage, accounting for 85.35% of the total. Compared to $ 29.4 billion, the value of projects in the implementation phase, and the percentage of these projects is 14.8% of the total.
In terms of sectoral distribution, the figures show that the construction sector accounted for the lion’s share of these projects at $76.9 billion, of which $64.2 billion is in the pre-implementation phase compared to $12.7 billion in the implementation phase, followed by the energy and industry sector with $21.6 billion and $4.6 billion. dollars, respectively, while the share of energy and water sector projects amounted to 41.8 billion dollars and 3.8 billion dollars, and finally the transportation sector by 41.4 billion dollars and 8.4 billion dollars in the pre-implementation and implementation phases, respectively.
The figures indicated that Kuwait has not achieved significant progress in terms of energy transition, as the installed renewable energy amounted to 20.3 gigawatts and therefore did not exceed 0.5% of the total electrical energy, while it was found that the percentage of spending on energy transition and renewable energy to the gross domestic product amounted to zero, in addition to To projects in the post-study phase with a value of 3% of the gross domestic product and an amount of $3.2 billion.
Regarding the 10 largest projects in Kuwait in various sectors, the figures showed that the Public Authority for Housing Welfare acquires the largest project, which is the city of South Al-Mutlaa, estimated to cost more than 20 billion dollars, then the South Sabah Al-Ahmad residential city project, at a cost of 6.2 billion dollars, while the Authority for Partnership Projects acquired Between the two sectors is the North Az-Zour Energy and Water Project at a cost of $15 billion, in addition to a number of projects in the transportation, chemicals, construction and energy sectors.
MENAFN01012023000130011022ID1105372317
Legal disclaimer: The Middle East and North Africa Financial Services Network provides information “as is” without any representations or warranties…whether express or implied. As this is a disclaimer of our responsibility for the privacy practices or the content of the sites attached within our network, including images and videos. For any inquiries regarding the use and reuse of this information resource please contact the above mentioned article provider.
