kuwait bahrain initial accord for273 million projects
Last Updated : GMT 08:07:15
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Kuwait, Bahrain initial accord for $ 273 million projects

Arab Today, arab today

Arab Today, arab today Kuwait, Bahrain initial accord for $ 273 million projects

Manama - KUNA

The Kuwait Fund for Arab Economic Development (KFAED) and the Bahraini government initialed here on Thursday an agreement for upgrading the latter\'s power network and establishing a special center for special needs cases at an overall cost of USD 273 million. Nawaf Al-Mehmel, KFAED\'s legal advisor and the head of a fund delegation, said in a statement to Kuwait News Agency (KUNA), following the signing ceremony, that the accord was aimed at boosting power of the electrical network by 400 kilo-watts. The project, including installment of land and marine cables and construction of three relay stations in various regions, is designed to minimize recurring outages and facilitate linkup of the local network with the GCC grid, said Al-Mehmel. Cost of updating the Bahraini power installations is estimated at USD 800 million, with contributions from the other GCC countries. Kuwait is paying USD 250 million. Its execution is forecast to finish in three years. Regarding the other venture, Al-Mehmel said an integrated complex would be built for the handicapped, at a cost of USD 23 million. It will encompass wards for medical care, habilitation, physical and psychological therapy. Kuwait will cover the whole expenses of this project, execution of which is expected to conclude in two years. The GCC Ministerial Council, at a meeting held last March, adopted allocation of USD 20 billion; USD 10 billion for Bahrain and the equivalent sum for Oman, to help these two GCC member states carry out development schemes. The GCC, founded in the early 80s for closer coordination and integration among the regional countries, comprises Kuwait, the UAE, Oman, Bahrain, Qatar and Saudi Arabia.

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