Kuwait spent 3.19 billion dinars ($11.4 billion) in the 2010-11 fiscal year on projects for a four-year development plan, KUNA reported, citing Adel al- Wuqayan, secretary-general of the Supreme Council for Planning and Development.
Spending came to almost 62% of the amount originally allocated under the plan for that year, the state-run news service said. Most of the money was assigned to energy projects, followed by infrastructure investment, al-Wuqayan told KUNA.
Kuwait wants investors to meet almost half the cost of its $110 billion development plan to modernize the oil-based economy. The investments include increasing oil and gas production, construction of a metro and rail network, the expansion of the airport, new power stations, cities, hospitals, roads and a port on Boubyan Island.
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