Kuwait to fund Bahraini projects
Kuwait is funding bing investment projects in Bahrain
Click here to add Bahraini government as an alert
Disable alert for Bahraini government,
Click here to add Kuwait Fund for Arab Economic Development as an alert
Disable alert for Kuwait Fund for Arab Econo ...,
Click here to add Kuwait News Agency as an alert
Disable alert for Kuwait News Agency,
Click here to add Nawaf Al-Mehmel as an alert
Disable alert for Nawaf Al-Mehmel
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.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?
- Kuwait to bankroll Bahraini development
- NBK Kuwait Equity Fund ranked first among funds investing in the Kuwait Stock Exchange in 2010
- Global Finance names NBK Best Provider of Money Market Funds in the Middle East 2011
- GCC funded Bahraini projects set to start
- Kuwait to fund Egyptian railway redevelopment