Kuwait and China have signed a memorandum-of-understanding (MoU) to begin Phase 1 construction of the Silk City megaproject, an industrial initiative which will include the development of the Mubarak Al-Kabeer Port.
According to reports from the Kuwaiti News Agency, a 35-strong delegation from China, with representatives from tech giants Alibaba and Huawei and the China Development Bank, met senior figures from the Kuwaiti government earlier this week to discuss the plans.
— kuna (@kuna_en) February 18, 2019
As well as signing the MoU, the two sides discussed the development of the Silk City project which will also include an airport and a logistics railway hub for transporting cargo and people.
The Mubarak Al-Kabeer Port will be built by the Chinese Construction and Communications Company and it will be operated through either a long-term leasing or public-private partnerships.
The Silk City will be built on islands and connected to the Kuwaiti mainland by the proposed Jabar Bridge which upon completion will be the fourth longest in the world.
Its construction is part of China’s Belt and Road Initiative (BRI), a massive state-sponsored project to develop ports, railways and roads throughout Asia and Europe, which is expected to cost Beijing anything from $900 billion to $1 trillion.