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Kuwait to offer projects worth $12bln to private sector - Newspaper
13 April 2017
Kuwait intends to offer projects worth around $12 billion in petrochemicals and other sectors to the private sector in a bid to attract foreign capital, a Kuwaiti newspaper said on Thursday.
The Kuwait Authority for Partnership Projects (KAPP), which oversees joint public-private ventures, is expected to complete a list of the projects by June, Arabic daily Al-Nahar said.
The projects involve new production units and expansion of existing ones in the industrial sector and cover petrochemicals, oil products, plastics and metals.
"KAPP is expected to complete a list of those projects before June and they are intended to attract Gulf and international firms to the local market," the paper said, quoting sources close to the Authority.
The report said the projects are part of plans to create a zone for major manufacturing projects within Kuwait's economic strategy Vision 2035, which is intended to ease the country's reliance on oil revenues.
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