Kuwait has signed a major $4.1 billion deal with China to complete the Mubarak Al‑Kabeer Port, a key project aimed at diversifying the oil‑rich nation’s economy and expanding its role in global trade. The State Audit Bureau announced that the engineering, procurement and construction contract for the port will cost 1.28 billion Kuwaiti dinars (about $4.164 billion). The signing ceremony was attended by Prime Minister Sheikh Ahmad Al‑Abdullah Al‑Ahmad Al‑Sabah, who highlighted the project’s importance for boosting Kuwait’s share in regional and international trade and strengthening its position in the global supply chain.
Located on Boubyan Island, the port is expected to play a crucial role in revitalising the country’s economy. The agreement forms part of China’s Belt and Road Initiative, the expansive infrastructure programme championed by President Xi Jinping. Chinese acting chargé d’affaires Liu Xiang noted that the deal reflects China’s growing focus on the Middle East in recent years.
In 2023, Kuwait signed seven memoranda of understanding with China covering projects such as the Mubarak Al‑Kabeer Port, housing, water treatment and renewable energy. The port’s construction marks a significant step toward enhancing Kuwait’s trade capabilities and strengthening its regional standing. It is expected to increase the country’s competitiveness, attract more investment and contribute to economic diversification.
With the port’s completion, Kuwait aims to become a major player in global trade, leveraging its strategic location to facilitate the exchange of goods and services. The partnership underscores the deepening economic ties between Kuwait and China, and as China expands its presence in the Middle East, Kuwait stands to benefit from greater trade and investment opportunities. The successful delivery of the Mubarak Al‑Kabeer Port project is poised to boost the national economy and pave the way for further cooperation and development in the region.
Comments are closed for this story.