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Mpw, Finance Embarks On 95 Million Dinars Arabian Gulf Waterfront Development Project
The Ministry of Public Works, in coordination with the Ministry of Finance has included the Arabian Gulf Street waterfront project in the plan for the next fiscal 2022-2023, in response to the request of the Council of Ministers and the General Secretariat for Planning and Development.
Sources told Al-Qabas the estimated value of the project is 95.5 million dinars, and it aims to develop 1.8 km of the waterfront to create new job opportunities and increase investment and growth of tourism sector, in turn to increase the national income.
The sources stated that the project also aims to develop tourism services, encourage investments in related activities, make optimal use of tourism facilities and services, create a competitive industry, and provide beach areas for all segments of society and other areas open for sports.
According to the ministry’s plan, the first phase will include contacting the Environment Public Authority and the Ministry of Oil to obtain the necessary approvals, after which the design phase will begin next September, to sign the contract with the winning engineering office in November next.
According to the sources, the implementation phase will begin between 2026 and 2028, after which the actual operation and benefit from the project will begin.
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SOURCEÂ TIMESKUWAIT
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