Kuwait is a market with substantial potential given the two key ingredients for success: a need and the financial ability to meet that need. In terms of future projects, Kuwait has the highest upward potential of any market in the region, with potentially more than double the value of contracts awarded in the next five years compared with the previous half-decade period. If it delivers, it could find itself as the third largest market in the region.
MEED Insights latest market intelligence report, the Kuwait Projects Market Report 2013, examines historic, current and future project opportunities in the state as well as government policy; spending plans and challenges. The report covers the political and macro-economic situation in the state and provides a detailed and comprehensive overview of the key project trends and opportunities across all sectors such as oil and gas, construction, power, and the PPP programme.
The signs are encouraging. The launch in 2009 of the states $100bn-plus five-year development programme has focused government efforts on project delivery. At the same time, all eyes are on the Partnerships Technical Bureaus (PTB) public-private partnership (PPP) plan covering almost 30 projects and counting.
Through this comprehensive report you will gain exclusive insight into:
- Rankings of the top clients and contractors
- A political and macroeconomic overview highlighting the investment environment
- Lists of the current and future projects along with their status, value and scope
- Overview and analysis of plans for each sector along with key drivers
- Historical, current and future sizing of each sector and market
Perhaps most importantly, the issue, after years of planning, of the main tenders for the $16bn-plus clean fuels refining upgrade project (CFP) in early 2013 should indicate that Kuwait is serious about its investment plans. Should it follow it up with the retendering of its similar-sized new refinery project (NRP), the local projects market will be in line for a radical transformation.
The key findings in this report are:
– Kuwait is today the regions fourth-largest projects market after Saudi Arabia, the UAE and Qatar. In 2012, the state awarded $10.1bn-worth of contracts, a marginal fall on the $10.6bn awarded in 2011. In terms of future projects, there are some $116bn-worth of projects planned or un-awarded in the state;
– Of the contracts awarded in 2012, transport was the largest sector, followed by power and construction. More than 90 per cent of all contracts in Kuwait are awarded by the public sector, highlighting the restrictive role of the private sector in the projects market;
– The MEED Insight forecast is for $16bn-worth of contracts to be awarded in Kuwait in 2013, a 60 per cent increase on the 2012 figure. The largest sector is likely to be construction, dominated by new hospital projects followed by power;
– Longer term, there is likely to be upward momentum for the local projects market driven by heavy downstream investments, PTBs PPP programme, and the $100bn-plus five-year development programme.
Buy MEED Insights 155-page Kuwait Projects Market Report today and gain an in-depth understanding of the potential for business development and growth in the Kuwait projects market.
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