World Economy

Egyptian Firms Plan $20b Kuwait Projects

Egyptian Firms Plan $20b Kuwait ProjectsEgyptian Firms Plan $20b Kuwait Projects

Egyptian building contractors are planning to set up three major residential cities in Kuwait at an investment of $20 billion. The Kuwaiti market is suffering from construction crisis as there is a gap between the submitted business volume and the possibilities of contracting companies which executed the business, TradeArabia reported. The Egyptian Federation for Construction & Building Contractors said it has received a notification from Kuwaiti cabinet since last February allowing Egyptian contractors to enter the bids.