More Kuwaiti firms take part in Iraq reconstruction

October 14th, 2008 - 11:26 am ICT by IANS  

Dubai, Oct 14 (IANS) An increasing number of Kuwaiti firms are taking part in the massive reconstruction programme being carried out in war-torn Iraq.Iraq’s Minister for Housing and Reconstruction Bayan Dizayee has signed a package of high-profile deals with major Kuwaiti firms to implement reconstruction projects across various Iraqi provinces, reports the state-run Kuwait News Agency (KUNA).

The signed deals involve apartment buildings, infrastructure projects and import of construction materials, the minister was quoted as telling reporters in Kuwait.

The Iraq government has set aside 523 billion Iraqi dinars ($450 million) in its budget for 2008 for building roads and bridges.

The government has also allocated 300 billion dinars ($255 million) for projects to be completed in 2009 besides 80 billion dinars ($68 million) as a complementary budget, the minister said.

Hailing the participation of Kuwaiti firms in the reconstruction process of her country, Dizayee encouraged Kuwaiti investors to tap the opportunities in the Iraqi market.

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