Mubasher: The Kuwait Port Authority (KPA) is expected to post KWD 150 million ($495.7 million) in profits after setting up development projects, general manager Youssef Al-Sabah said.
Kuwaiti ports, including Shuwaikh and Shuaiba, have become outdated and were in need of development and expansion, Al-Sabah told CNBC Arabia.
The volume of goods is increasing with the growing number of population and projects and these ports serve a large segment of residents in Kuwait, Al-Sabah added.
The budget of the seven development projects that will be established is projected to reach up to KWD 700 million, the general manager noted
