Plans to invest in Jaber Bridge

Kuwait News, July 27: In a move that enhances the investment and economic diversification approach; To generate revenues for the treasury from new sources, the General Organization for Social Insurance expressed its desire to invest in the Jaber Bridge Islands project.

An informed source revealed to local media, that the ministerial committee supervising the follow-up of the implementation of major development projects, in its last meeting, heard the testimony of the Social Insurance Institution regarding its interest in investing in the islands’ sites, as the “insurances” confirmed that it is striving hard through its investments to achieve a balanced and diversified portfolio that achieves A return that contributes to financing retirement systems in the long term.

The source indicated that the Insurance Corporation will hold a coordination meeting with the technical team specialized in the investment project at the Jaber Bridge sites, to discuss inquiries regarding the provision of infrastructure services, electricity and water tariff prices for government companies, and whether the project investment sites will be offered in separate parts or awarded as a package to one side.

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The source clarified that the investment is subject to proving the feasibility of the project, and is considered a contribution to supporting strategic and development projects in the country, as well as providing job opportunities for young people. [Read Also: Tik Tok is Kuwait’s most popular video application]

In addition, the ministerial committee supervising the follow-up of the implementation of major development projects “insurances” was assigned to coordinate with the secretariat of the Council of Ministers and the competent authorities; To study the investment project in the Jaber Bridge Islands – including the two artificial islands and the northern and southern banks – in all its aspects, and the extent of its suitability to the vision and aspirations of the Corporation in this regard, and to provide it with the extent of the possibility of its participation and its governmental companies in the project in a way that ensures the achievement of financial returns and benefits the state.

Develop solutions to obstacles

The ministerial committee supervising the follow-up to the implementation of major development projects assigned the Cabinet Secretariat to coordinate with each of the: “Ministries of Works, Electricity and Water, and Communications, and Kuwait Municipality,” and the relevant authorities for preparing the infrastructure for investment sites in the islands to project, and to take everything that would meet The basic needs to absorb the activities and projects, and provide them with a report that includes an executive summary of the actions taken, what will be taken in accordance with the execution plan and the timetable required to complete those works, facing the obstacles that may arise in this regard, and the solutions that ensure overcoming each of them.

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3 inquiries

The Foundation discussed with the Development Projects Committee:

  • Infrastructure Services
  • Electricity and Water Tariff
  • The project proposal mechanism

Adil Khan

Adil Khan writes about Kuwait National News for Mykuwaits, out of Kuwait. Adil Khan is a senior reporter for Mykuwaits.com and has frequently written about the latest developments in the State of Kuwait. Adil Khan is available on Facebook at the below link, Please send in your leads and tips.
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