Kuwait’s PTB seeks proposals for advisory contract on metro
To qualify, companies must have experience in rapid transit projects, district cooling and PPP
The Kuwaiti government is seeking proposals by contractors for the transaction advisory contract for the first phase on the country’s first metro project.
The Gulf country’s Partnership Technical Bureau (PTB) has set September 20 as the deadline for interested companies to submit their proposalsfor the transaction advisory contract for the first phase of the estimated $7bn Kuwait Metro project, according to a MEED report.
To qualify, companies must have experience in rapid transit projects, district cooling schemes, contract management and public-private partnership (PPP) projects, the PTB said.
The Kuwait metro network will be 160kmlong with 69 stations. The first phase involves the construction of around 50km with 28 stations. About 30% of this phase will be underground.
Once completed, the government will own 10% of the project and raise 50% of the funds through an initial public offer, while the remaining 40% will be held by the private developer.
Spain’s Ingenieria & Consultoria de Transporte (INECO) provided the master plan for the system, while the project feasibility studies were carried out by a consortium of Al Dashti, INECO and the local Kuwait United Development group in 2006, which were completed in May 2010. The project is expected to be completed in 2016.
