Kuwait: Salini Impregilo signs 958 million dollar contract
Italian industrial group Salini Impregilo, partnering with the Turkish company Kolin (55% and 45% shares, respectively), was awarded a 958 million dollar contract in May to build residences in the future ''smart city'' of South Al-Mutlaa, west of Kuwait City. The Italian ambassador attended the contract signing ceremony at the invitation of Minister of State for Housing Affairs, Yasser Hassan Abul. The Salini Impregilo delegation was led by Managing Director Leonardo Blanda.
In his speech, the minister highlighted the political and strategic value of the Al-Mutalaa project, which has been strongly backed by the country’s political leaders. It plans to meet the housing needs of young Kuwaitis who for years have complained about delays in housing allocations. The minister also said that the excellent reputation of Salini Impregilo and Kolin was essential to complete such a large project, which will provide homes for about 200,000 residents in the country’s biggest residential development. The President of the Kuwaiti parliamentary housing commission also stressed the political value of the project.