Kuwait contract awards rebound in Feb 2024, shows MEED report
MoE sets aside KD 60m for excellent job bonus
KUWAIT CITY, March 28: MEED magazine’s report highlighted the fluctuating trend in contract awards in Kuwait, noting a decline in January 2024 followed by an increase in February 2024, reports Al-Anba daily.
In February 2024, Kuwait awarded contracts totaling $144 million, marking a 14% increase compared to the previous month. These contracts were divided into three main projects:
Public Buildings in Al- Mutlaa Residential City – The largest contract, worth $ 60 million, was awarded by the Public Authority for Housing Welfare to the local United Construction Company.
This project involves the construction of public buildings in Al- Mutlaa Residential City.
Construction Work in Al-Mutlaa Residential City – Another contract, valued at $45 million, was awarded for construction work in Al-Mutlaa Residential City. This project is also initiated by the Public Authority for Housing Welfare.
Ground Cable Extension in Jahra Governorate – The third contract, worth $39 million, was awarded by the Ministry of Electricity, Water and Renewable Energy for extending ground cables at a power station in the Jahra Governorate.
Despite the increase in contract awards, Kuwait ranked fifth in the Gulf and sixth regionally in terms of the value of contracts awarded in February.
The Kingdom of Saudi Arabia led the region with contracts worth $ 5.024 billion, followed by the UAE, Oman, and Qatar. Bahrain ranked sixth in the Gulf and ninth regionally with contracts worth $ 58 million.
The report underscores Kuwait’s ongoing efforts to invest in infrastructure projects and stimulate economic growth through strategic contract awards.
KD60m set for bonus: The Ministry of Education has allocated KD60 million for the excellent job performance bonus of eligible employees for the year 2023; including the administrative staff and teachers, reports Al- Anba daily quoting sources.
Sources revealed to the daily that the ministry will ask the educational districts to send the list of administrative employees entitled to the bonus next week in order to review the list before submission to the Financial Affairs Sector.
Sources clarified that the performance of teachers will be evaluated at the end of the current academic year and those eligible among them will receive the bonus either at the end of August or the beginning of September.