Kuwait plans to invest KD4.75bn ($15.75bn) on new development schemes as part of its 2017-18 national development plan, of which KD1.59bn will come out of the state budget.

The government aims to fund developments with investments from private and public sectors, local Kuwait Times cited the secretary general of the country’s Supreme Council for Planning and Development Khaled Mahdi at a local news conference.

The country’s five-year development plan is also reliant on contributions from these sectors as the government aims to provide 49.3 per cent of the total funds required. Public sector, including the energy industry, is expected to contribute 33.8 per cent of the funds while private sector’s financing of various schemes will amount to 16.9 per cent, according to the report. The report didn’t provide details of total amount Kuwait plans to spend on five-year development plan.

The plan, which aims at broader revamp of the Kuwait’s economy includes various schemes in the health, education, tourism, infrastructure and energy sectors.

Within the oil and gas industry, the government’s broader plans includes investments in the new Al-Zour refinery, which is due to be completed in December 2019, and the clean fuels project which is scheduled for completion in April 2018.

The government is also launching five major initiatives for the development of transportation, information technology, communication infrastructure and power projects to increase electricity generation capabilities, according to Mahdi. The planning chief also said that the Sheikh Jaber al-Ahmad bridge is expected to be completed by November 2018 and the expansion of Kuwait International Airport is slated to be completed by January 2022.

The housing scheme of South Mutlaa, he said is due to be finished September 2019.

Within the healthcare sector, the government aims to complete Sabah Hospital project by August 2018 and build two news hospitals in Adan and Farwaniya with completion deadline of June and December 2019, respectively.