BMI View: Increased oil income has bolstered the Kuwait Construction and Infrastructure sector as the government continues to stand behind growth despite political uncertainties. State stimulus has ensured a steady pipeline of projects but delays are starting to threaten investor confidence. Growth estimates have slipped slightly this quarter as a result, with growth of 3.3% year-on-year (y-o-y) forecast for 2013. This will take the industry value to US$3.5bn this year, rising to US$6.6bn by 2022. Key developments in Kuwait’s infrastructure sector include: ? Kuwait’s Ministry of Electricity and Water awarded Honeywell a US$11.8mn contract to upgrade the country’s water distribution …
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