Kuwait to develop gold market

Kuwait to develop gold market

Kuwait has approved a project to develop its old gold market in the capital Kuwait City within a plan to upgrade services and face growing demand, a newspaper has said.

The Public Utilities Management Company, which is affiliate to the Kuwait Investment Authority, will oversee the 2-phase project that involves the expansion and modernisation of 140 shops and the market infrastructure, the Company’s CEO Saleh Othman told Kuwait’s Aleyassah newspaper on Wednesday.

“Phase one of the project has just been launched and it involves development of electricity and other facilities in the market,” Othman said.

The project covers all market shops and the construction of new offices for the Commerce Ministry, Othman said, adding that the Company has signed a contract with a local consultancy firm for the project.

(Writing by Nadim Kawach; Editing by Anoop Menon)

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