Kuwait to fund Bahraini projects

Kuwait to fund Bahraini projects
2.5 5

Published October 15th, 2012 - 11:46 GMT via SyndiGate.info

Rate Article:

 
PRINT Send Mail
comment (0)
Kuwait is funding bing investment projects in Bahrain
Kuwait is funding bing investment projects in Bahrain
More >
Nawaf Al-Mehmel
,
Bahraini government
,
Kuwait Fund for Arab Economic Development
,
Kuwait News Agency

The Bahraini government has entered into an agreement with Kuwait Fund for Arab Economic Development (KFAED) whereby two key projects in the Kingdom will be part funded by the Kuwaiti authorities.

According to a Kuwait News Agency (KUNA) report, the projects are upgrade of power network and establishment of a centre for people with special needs.

Nawaf Al-Mehmel, KFAED's legal advisor and head of the fund delegation, said in a statement to KUNA that boosting power of the electrical network by 400 kilo-watts was a key project.

The project, including installment of land and marine cables and construction of three relay stations in various regions, is designed to minimize recurring outages and facilitate linkup of the local network with the GCC grid, said Al-Mehmel.

Cost of updating the Bahraini power installations is estimated at $800million, with contributions from the other GCC countries. Kuwait is paying $250m. Its execution is forecast to finish in three years.

Regarding the other venture, Mr. Al-Mehmel said an integrated complex would be built for the handicapped, at a cost of $23m. It will encompass wards for medical care, habilitation, physical and psychological therapy.

Advertisement

copyright © 2012 All Rights Reserved

Post new comment

The content of this field is kept private and will not be shown publicly.