Deadline for Al Zour North bids extended until end of September
• The deadline for submitting bids for the Al Zour North power plant project (phases 2 and 3) has been extended to September 30, 2024.
• The project will provide Kuwait with 2600 megawatts of power, increasing the country’s electricity generation capacity.
The deadline for submitting bids for the Al Zour North power plant project (phases 2 and 3) has been extended to September 30, 2024.
This extension will allow more qualified investors to participate in the project, which is expected to provide Kuwait with 2,600 megawatts of power. This increase will significantly boost the country’s electricity generation capacity.
Engineer Naif Al-Haddad, Director of the Research and Strategic Planning Office at the Public Private Partnership Projects Authority, announced the deadline extension during a workshop held by the Kuwait Chamber of Commerce and Industry. The workshop focused on “Kuwait’s New Vision Through Partnership Projects.”
Strategic projects
Al-Haddad also revealed that the Partnership Authority is making progress on several other significant projects. These include the Shaqaya renewable energy project and the fixed telecommunications project.
The qualified companies for the Shaqaya project will be announced soon, allowing for a swift launch. The names of the qualified companies for the fixed telecommunications project, developed in cooperation with the Ministry of Communications, will also be published in the Official Gazette shortly.
Looking ahead, Al-Haddad highlighted that the Authority will unveil three new strategic projects in the near future. These projects will be the largest in terms of both cost and the number of participating companies.
The high level of competition is particularly noteworthy, as it includes companies entering the Kuwaiti market for the first time. This strong interest underscores the state’s ability to attract major investments that will diversify the economy and broaden the investor base.
Role of the private sector
Al-Haddad emphasized the importance of private sector involvement in infrastructure projects. Partnering with the private sector helps to alleviate the financial burden on the state while achieving common community goals.
The partnership projects put forward by Kuwait are specifically designed to activate the private sector and serve the collective interests of the community.
The workshop with the Chamber of Commerce served as a platform for exchanging ideas and gathering feedback from private sector companies.
This collaborative approach is crucial for establishing effective working mechanisms that benefit both parties.
The Partnership Authority and the Chamber of Commerce have a history of cooperation, and this workshop represents a continuation of that partnership.
The Chamber plays a vital role in attracting foreign delegations and investment companies, while the Authority offers state projects as attractive investment opportunities.
Collaboration between public and private sector entities is essential for a successful partnership. Open communication with private sector representatives allows for the development of appropriate mechanisms that achieve shared goals and deliver mutual benefits.
Importance of partnership between the two sectors
Engineer Al-Haddad outlined several key objectives for the public-private sector partnership.
These include creating job opportunities for Kuwaiti youth, establishing joint stock companies listed on the Kuwait Stock Exchange, and reducing the strain on the state budget by attracting investor financing for these projects.
The success of these projects will contribute to a more dynamic Kuwaiti economy, the inflow of foreign capital, and a more diversified Kuwait Stock Exchange encompassing a wider range of industries, such as electricity, wastewater treatment, and others.
