Kuwait is accelerating its development efforts with $18.7 billion in major ongoing projects, according to a report by MEED. This surge in investment is part of the country’s ambitious plan to boost infrastructure and transform itself into a regional financial hub.
The largest project on the list is the $5 billion Dorra Gas Field, developed jointly with Saudi Arabia. The project is expected to be completed by 2028. Close behind is the $4 billion second and third phases of the Al-Zour North Power and Water Desalination Plant, which will be completed by 2027 and help secure Kuwait’s electricity supply.
Kuwait’s contract awards over the past five years have reached significant levels, with the highest value recorded in 2023 at $7.1 billion. Projections for 2024 stand at $5.8 billion, with previous years seeing lower levels of contract activity, including $2.1 billion in 2022.
Here’s a breakdown of the ten largest projects currently underway in Kuwait:
- Dorra Gas Field
$5 billion project, jointly developed with Saudi Arabia, to be completed by 2028. - Al-Zour North Power Plant (Phase 2 & 3)
$4 billion, expected completion by 2027. - Al-Khiran Power Plant
$2 billion, set for completion by 2027. - Shagaya Renewable Energy Complex
Phase 1 valued at $1.5 billion, with completion expected in 2028. Total capacity across phases: 4,500 MW. - Dibdibah and Shagaya Renewable Energy Project
$1.5 billion combined value, expected completion in 2028, with a capacity of 1,100 MW. - Gathering and Separation Center 3 and Water Injection Station
$1.1 billion, set to finish by 2027. - Gathering and Separation Center 1 and Water Injection Station
$1.1 billion, also expected to be completed by 2027. - Mubarak Al-Kabeer Port (Phase 1)
$904 million, to be completed in 2027, contributing to regional economic and urban development. - Mutlaa Fuel Depot
$850 million, aimed to meet growing fuel demand, set for completion by 2027. - Al Sabah Medical District Children’s Hospital
$810 million, with completion expected in 2029.
Kuwait’s government has been working to implement development projects efficiently. Over the past five years, it has completed $24.5 billion worth of projects, with more in the pipeline.
The International Monetary Fund (IMF) projects Kuwait’s GDP will reach $162 billion in 2025, growing by 3.3%. This follows a contraction of -2.7% in 2024. Inflation is expected to decline to 2.4% in 2025, from 3% in the previous year.
