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FINANCIAL NEWS
Kuwait sets aside $2.1b for industrial projects in 2010
24 Apr 2010
(MENAFN) Kuwaiti Minister of Commerce and Industry and Board Chairman of the Public Authority for Industry (PAI) Ahmad Rashed Al-Haroun said that the PAI has set aside a total of $2.1 billion in industrial investment for 2010, Kuna reported.
Out of these funds $1.39 billion million will be invested in Eastern Shu’aiba Area, $436 million in Amghara, and $249 million in Neighborhood 5 of Sabhan Area.
The minister made the remarks in a press conference at the PAI headquarters where he announced the latest developments relating to the key projects being implemented by the PAI.
Shu’aiba Area is scheduled to house five major eco-friendly industrial institutions, Sabhan 62 foodstuff projects, and Amghara 45 projects, he said.
Backed by the Minister of Commerce and Industry, the PAI is working with all concerned state departments to implement the development projects and achieve the set targets as early as possible, he added.
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