Kuwait's first industry zone completed
The Public Authority for Industry (PAI) said it would manage Al-Shadadiya industrial zone south of the capital Kuwait City after it was completed this month.
Newspapers in the founding OPEC member quoted PAI as saying the new zone spans an area of nearly 6 million square metres and would comprise 1,036 factories covering chemicals, foodstuffs, furniture, home appliances and other light products.
Designs and infrastructure of the project cost nearly 100 million Kuwaiti dinars ($330 million), which was funded by the Kuwaiti government as part of a medium-term industrial strategy.
'This project has just been completed and handed over to PAI following a delay of more than five years due to poor performance and lack of funds by the first contractor,' the Kuwaiti Arabic language daily Alqabas said on Wednesday.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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