Kuwait aims to revive the Silk Road trade route by pumping millions into ‘silk city’

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A visitor walks past the statues of the characters from the Chinese novel 'Journey to the West' Thursday March 15, 2007 in Lanzhou, China. Lanzhou was an important town along with the ancient Silk Road connecting China and Europe. VOA

Kuwait City, March 11, 2017: Kuwait is aiming to revive the silk road trade route by pumping millions into ‘silk city’. Thus, Kuwait is building one of the world’s longest causeways to its remote north.

Kuwait aims at reinvigorating the ancient silk road route establishing a major free trade zone linking the Gulf to central Asia and Europe, to inject life in uninhabited Subbiya region. The region has been chosen as the location for Silk City.

The 36-kilometre bridge, will cut the driving time between Kuwait City and Subbiya to 20-25 minutes from 90 minutes now.

Investment in the Silk City project is anticipated to top USD 100 billion, and a 5,000-megawatt power plant has already been constructed in Subbiya.

Practitioner Regulation Agency began investigating him for “falsely holding himself out as a registered medical practitioner”.

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The Sheikh Jaber Al-Ahmad Al-Sabah Causeway, named after the emir who died in January 2006. At a cost of 904 million dinars (USD 3.0 billion), it is one of the largest infrastructure ventures in the region, mentioned PTI.

It is already nearly three-quarters completed. Inspite of the sharp drop in oil income which made up 95 percent of public revenues, the emirate has pledged to keep spending on capital projects almost intact.

“The causeway project is a strategic link connecting Kuwait City to the northern region,” stated Ahmad al-Hassan, assistant undersecretary for road engineering at the public
works ministry.

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Kuwait boasts a USD 600-billion sovereign wealth fund, and is in the middle of a five-year development plan stipulating investments worth USD 115 billion.

He also stated that in order to the fully integrate residential Silk City, other economic ventures are in the pipeline for Subbiya and its surroundings. A large container port is also under construction on nearby Kuwait’s largest island Bubiyan.

Finishing the causeway and harbour projects will pave the way for transforming the area into a commercial and investment hub with a free trade zone planned on five small
islands nearby.

– prepared by Sabhyata Badhwar of NewsGram. Twitter: @SabbyDarkhorse

 

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