Kuwait & China to Build $80 Billion City

Kuwait and China have made an agreement to build a US$82.2 billion city.

The city has been called the Madeenat Al Hareer (Silk City), and plans show it includes the Burj Mubarak Al Kabir Tower, a nature reserve, a duty free area, a new airport, and a large business centre.

A Chinese delegation recently met with their Kuwait counterpart in Kuwait, and talks covered the first phase of the Silk City project, which aims to establish a regional trade zone in Mubarak Port.

Also planned is a logistics area for goods, an international airport and railways for transporting goods and people, and an industrial city to embrace small and medium enterprises.

The two sides have agreed to cooperate with the Chinese Construction and Communications Company to initiate the collection of information, and to develop a work program for the investment, implementation and operation of Mubarak Port for the phase 1, either through long-term leasing or through Public-private partnerships.

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