KUWAIT, Dec 30 (KUNA) -- The next phase will see implementation of mechanisms needed to spur partnership with the private sector in executing development projects , Deputy Premier for Economic Affairs and Minister of States for Development and Housing Affairs Sheikh Ahmad Al-Fahad said Wednesday.
Sheikh Ahmad, during his presiding of a meeting for the committee tasked with following up execution of mega projects, stressed importance to implement such mechanisms through extending B.O.T contracts up to 40 years, with providing flexibility in design and planning for housing projects, a statement by the minister's media office said.
The meeting saw attendance of 15 government entities.
Also during the meeting, Sheikh Ahmad said that the intended mechanisms would contribute in invigorating the economic cycle and encourage the private sector to take stake in state projects, the statement noted.
The year 2010 will be the year of mega projects, with 10 to 15 projects to be launched, Sheikh Ahmad said, pointing out that the committee meeting approved establishing a fair to showcase future projects and provide detailed presentations on them for citizens.
Of these projects is Jaber Al-Ahmad Bridge, Jaber Al-Ahmad Hospital, Boubyan Seaport, expansions of Kuwait International Airport, the Fourth Refinery project and al-Harir City, as well as new housing and power projects among others, Minister Al-Fahad said.
Other issues discussed in the meeting, according to the statement, are new policies and legislations to be conferred over with MPs, as well as oil projects to be executed within the next five years. - Kuna