Kuwait formally launched a project to build a major commercial container port on Bubiyan island, the Minister of Public Works, Bader al-Humaidi said Saturday. The move is considered a bid to cash in on future shipping trade to Iraq, DPA said. Kuwait has invited bids from 17 pre-qualified companies to compete for the 2 billion dollar project, al-Humaidi told a press conference. The government wants to exploit the strategically located island by turning it into a free zone with the commercial shipping port, an oil storage area and an area for recreation. Phase I of the project will cost about 1 billion dollars and involves building a 34 kilometre-road linking the new container port with Iraq's port of Umm Qasr, major dredging works for the port and shipping channels and infrastructure construction. --more 2334 Local Time 2034 GMT
