Kuwait-China Port Construction Deal
Kuwait has entered into a significant contract with China to further its economic diversification and enhance its role in global trade.
Details of the Deal
- The agreement is valued at $4.1 billion.
- The project involves the completion of the Mubarak Al-Kabeer Port.
- The cost is specified as 1.28 billion Kuwaiti dinars ($4.164 billion).
Key Participants and Statements
- The signing ceremony was attended by Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah.
- Chinese acting charge d'affaires Liu Xiang emphasized the deal's connection to the 'belt and road' initiative.
Project Significance
- The project is located on Boubyan island.
- Aim to enhance Kuwait's involvement in regional and international trade.
