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Silk City to attract over US$ 400 billion of international investments - minister
May 31, 2018, 11:24 pm

First Deputy Prime Minister and Defense Minister Sheikh Nasser Sabah Al-Ahmad Al-Sabah said Wednesday Kuwait's northern area, which includes Silk City and Bubiyan Island, is forecast to attract over US$ 400 billion of foreign investments. These investments would not cost the state budget any expenses, Sheikh Nasser said at the parliament's supplementary session.

He made his remarks in a response to MPs' claims while discussing reports on approving .final accounts and linking budgets of eight state bodies.

Kuwait's northern area covers 1,800 square meters, and is not for disbursements by the state budget, he said, adding a special law is required for attracting foreign investment to the area. Responding to MPs' other raised issues, including the effect of pollution on the country's environment, Sheikh Nasser said the Supreme Council for Environment has discussed ways to deal with environmental problems in Al-Shuaiba area, particularly industrial.pollution.

The Council has suspended granting licenses in Al-Shuaiba until completion of all tests conducted to examine the volume of damages in the area, said Sheikh Nasser, who currently presides the Council.

The Council's recent meeting also discussed purchasing some sewage treatment facilities as backups to avoid further malfunctions in sewage treatment plants, such as in Mishref recently, and prevent wastewater leakage to the sea, he added. 

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