MEED reported that more than 45 consultants have expressed interest in Kuwait’s Metropolitan Rapid Transit project, the second public private partnership scheme launched by the government since the summer.

As per report, the Partnerships Technical Bureau, which is overseeing the scheme, is due to complete work on the request for proposals in mid December.

The winning bidder will act as the transaction adviser, helping the PTB structure, procure and negotiate the deal. This includes validating previous feasibility studies, carrying out due diligence on the project and overseeing the tendering process.

The USD 7 billion metro scheme involves the construction of 171 kilometers long inner city transport network with four lines running across Kuwait City. About 60 kilometers of the lines will be built underground.

A private developer will design, build, finance, operate and maintain the metro network. The developer will own 40% of the project company; the government will own 10% and the state will sell the remaining 50% in an initial public offering.

(Sourced from MEED)