Kuwaiti Minister of Public Works Noura Al-Meshaan said on Thursday that the executive contract to complete the Mubarak Al-Kabeer Port project will be signed next week with the Chinese side.
The Central Tendering Committee approved on December 1st the direct contracting of the Ministry of Public Works with the Chinese government-owned Company for Construction and Transportation Limited, associated with the Chinese Ministry of Transport, regarding engineering, supply, and construction works for completing the Mubarak Al-Kabeer Port - Phase One, according to the official gazette.
According to a government document obtained by Reuters, the contract is valued at 1.219 billion Kuwaiti dinars (3.97 billion dollars).
Mubarak Al-Kabeer Port is a vital strategic project located on Bubiyan Island in northern Kuwait, aiming to establish a safe regional corridor and a commercial hub in the region, with the Chinese side looking to link it to the Belt and Road Initiative.
The Minister of Public Works stated in a release that Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, the Prime Minister, will attend the contract signing ceremony with senior officials from the Chinese government company.
The Kuwaiti Cabinet approved in January to proceed with the direct contracting with the Chinese government-owned Company for Construction and Transportation Limited, belonging to the Ministry of Transport of China, to execute, manage, and operate the Mubarak Al-Kabeer Port project in all its phases.
Kuwait hopes that the project will significantly contribute to the diversification and increase of the GDP and restore Kuwait’s role as a regional commercial and financial hub. It states that 50 percent of the first phase of the port has been completed, without detailing the nature of this phase and what remains of it.
In 2023, Kuwait signed several memoranda of understanding with China for cooperation in executing various projects, notably the Mubarak Al-Kabeer Port project, during Sheikh Meshal Al-Ahmad Al-Sabah's visit to the Chinese capital when he was the Crown Prince before becoming the Emir of the country in December 2023.
