SEOUL, Apr. 4 (Korea Bizwire) — A consortium of South Korean construction companies will start building an eco-friendly residential city in Kuwait in 2019, the infrastructure ministry said Monday.
The builders’ consortium led by POSCO A&C and Hyundai Architects and Engineers Associates Co. plans to build the “smart city” which is environmentally friendly, well-organized and connected for the well-being of residents in the city, the Ministry of Land, Infrastructure and Transport said in a statement.
“It is the first export of the ‘smart city’ project which has been strongly pushed by the ministry,” the statement said.
The Kuwaiti project can pave the way for winning similar eco-friendly city construction projects in the Middle East, it said.
If the smart city is built, it will accommodate 25,000-40,000 households.
As a follow-up step, the government said it will help form the consortium in 2018 and set up a special purpose company in 2019 to push forward the US$4 billion project.
The ministry didn’t provide further details about the project.