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FINANCIAL NEWS
Kuwait OKs USD9.9b infrastructure projects
16 Aug 2015
(MENAFN) Kuwait Finance Ministry said the country has approved the construction of a series of power plants, desalination facilities and other infrastructure projects worth USD9.9 billion.
The Gulf country is struggling to meet surging demand for electricity and the planned projects will add up to 3,580 megawatts of capacity along with waste treatment and development for the education ministry.
Among the projects, Kuwait plans a second phase of the gas-fired Az-Zour North power and desalinated water plant that has an initial capacity of 1,800 megawatts.
Kuwait plans to generate 15 percent of its energy needs via renewable sources by 2030, with the first of up to 100 solar-powered fuelling stations operating by 2017, oil minister said in June.
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