Government Pushes Mega Projects Despite Oil Slide
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SUBSCRIPTION THURSDAY, JANUARY 22, 2015 RABI ALTHANI 2, 1436 AH www.kuwaittimes.net Khorafi warns Obama: Shadow Saudi single Sharapova, public funds of crisis has women defy Nadal survive ‘red line’, must passed, time to tradition in big scares in be protected3 turn the7 page love,40 marriage Melbourne20 Government pushes mega Min 03º Max 21º projects despite oil slide High Tide 00:03 & 13:53 Oman blasts market share war • Deficit not stopping development Low Tide 07:31 & 19:25 40 PAGES NO: 16410 150 FILS KUWAIT: Kuwait plans a mega spending spree just as international oil prices have collapsed. The government Court keeps intends to spend about $100 billion in the next five years to modernize oil infrastructure, Kuwait’s oil minister said yesterday. At the same time, the Municipal Council yes- Watan shut terday approved the first phase of a $7 billion Kuwait section of a pan-GCC railway system. This despite Brent By B Izzak crude, the global oil benchmark, selling for $48.84 a bar- rel yesterday and Finance Ministry predictions that the KUWAIT: The administrative court yesterday post- country will hit a budget deficit by 2017. poned until Jan 28 the next hearing on Al-Watan “We already have started the implementation of the newspaper’s closure case, but rejected an appeal to 2030 strategy, and overall spending over the next five reopen the daily. The delay was granted to allow the years is estimated to be at $100 billion,” Ali Al-Omair told government’s defense to complete documents per- an oil conference in Kuwait City. The funds “will be spent taining to the case, which has been condemned by on various projects related to production, refining, many circles. The court’s decision means that Al- petrochemicals, as well as transportation,” Omair said. Watan will remain shut until next week, when the Kuwait plans to increase its crude production capacity to judge can either reopen it or keep it shut until the 4.0 million barrels per day by 2020 and maintain it until next hearing. 2030 from the current level of about 3.2 million bpd. The commerce and industry ministry on Monday The investment plans come as oil prices have shed decided to withdraw the commercial license of Al- about 60 percent of their value since June. Income from Watan because of financial difficulties. The ministry the sector accounts for around 94 percent of Kuwait’s said it was applying the law which stipulates the public revenues. The government earlier this month pro- withdrawal of the commercial license when a com- posed investment spending of $155 billion during the pany’s losses exceed 75 percent of its capital. Al- next five-year development plan starting in April. Nizar Watan, which stopped publication in the past two Al-Adasani, the chief executive of national oil conglom- days, immediately challenged the decision before erate Kuwait Petroleum Corp, told the conference the the administrative court. state plans to raise its production capacity to 3.5 million The daily’s defense lawyer Rashed Al-Radaan bpd by the end of 2015. “We are focusing on the demanded in his arguments that the court cancel upstream where the challenges are so great. It is our the government’s decision and allow the daily to republish until it makes a final ruling on the case. KUWAIT: Oil Minister and Minister of State for National Assembly Affairs Ali Al-Omair speaks during the strategy to invest to maintain excess capacity,” said Continued on Page 13 opening of a forum to discuss emerging trends in hydrocarbon production and use in the region yester- Adasani. day. — Photo by Yasser Al-Zayyat Continued on Page 13 LOCAL THURSDAY, JANUARY 22, 2015 KUWAIT: His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah receives His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah with spe- during his meeting with Iraqi Oil Minister Adel Abdel Mahdi. Malta’s Minister of Foreign Affairs George Vella. — KUNA photos cial envoy of the Libyan Parliament Speaker Khaled Amro Al-Tabib. Amir receives Iraqi Oil Minister, Malta FM KUWAIT: His Highness the Amir Sheikh Sabah Abdel Mahdi. HH the Amir also received First Deputy Minister of Amiri Diwan Affairs Sheikh of the Libyan Parliament Speaker Khaled Amro both countries, including Quwaider’s congratu- Al-Ahmad Al-Jaber Al-Sabah received at Bayan Deputy Prime Minister and Minister of Foreign Ali Al-Jarrah Al-Sabah and Foreign Ministry Al-Tabib. The Libyan official handed HH the lations to His Highness the Amir for being Palace yesterday Minister of Oil and State Affairs Sheikh Sabah Al-Khaled Al-Hamd Al- Undersecretary Khaled Al-Jarallah. Amir a letter from Parliament Speaker Aqila granted the humanitarian leader title by the Minister for National Assembly Affairs Dr Ali Al- Sabah and Malta’s Minister of Foreign Affairs Meanwhile, HH Sheikh Sabah received Saleh Issa Quwaider. UN and Kuwait as a center for humanitarian Omair accompanied by Iraqi Oil Minister Adel George Vella. The meetings were attended by Sheikh Sabah Al-Khaled and the special envoy The letter tackled bilateral ties between work. — KUNA GCC condemns events in Yemen RIYADH: The Gulf Cooperation Council (GCC) their supporters, and the ensued undermin- states, and that the country’s stability and Ministerial Council yesterday urged Yemen’s ing of the political process in Yemen (based unity is a top priority for the GCC. The GCC Houthis to give back to state the official insti- on the GCC Initiative and its executive mech- member states also underlined the fact that tutions they had captured, leave the presi- anism), failing the output of the comprehen- they will take the necessary measures to pro- dential palace and set free the Yemeni sive national dialogue and hindering the tect their security, stability and their vital President. peaceful transition, which all run against the interests in Yemen. The bloc’s Foreign Ministers meeting in higher interests of Yemen and its people.” The Ministerial Council emphasized sup- Riyadh yesterday stressed in a final statement port to the constitutional legitimacy in support to the Yemeni people and con- Coup against legitimacy Yemen, represented by President Abd demned “terrorist attacks, the last of which The GCC considered the Tuesday events in Rabbuh Mansur Hadi, and utter rejection of was trespassing constitutional legitimacy; Sanaa “a coup against legitimacy” urging the measures taken to impose a status quo by besieging, and then breaking into the presi- Houthis to withdraw from the presidential force, and the attempts to change the com- dential palace and kidnapping Chief of the palace, and the President’s and the Premier’s ponents and the nature of the Yemeni socie- Presidential Staff and the Secretary General houses, removing the checkpoints on roads ty. It also urged the Houthis to halt their use of the National Dialogue Conference Ahmad leading to them, in addition to releasing the of force and withdraw from all the regions Awad Bin Mubarak.” Presidential Chief of Staff, and nationalizing they had captured, hand over the arms they They also condemned the assassination the security conditions in the capital. had seized from the military and security attempt that targeted Prime Minister Eng. In case the Houthis respond positively to institutions and to get involved in the politi- Khaled Mahfouz Bahah, and Houthis’ use of these demands, a GCC Secretary General’s cal process. RIYADH: Kuwait’s First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al- violence against the state and its institutions, envoy will be dispatched to meet with all the Khaled Al-Hamad Al-Sabah at yesterday’s meeting. — KUNA terrifying people, expanding in other Yemeni Yemeni political power to discuss implemen- Higher interest the necessity of the UNSC enforcing all its Foreign Ministers council is considered in a regions, which all pose a threat to the coun- tation of the rest of the Initiative, its execu- The GCC urged all the Yemeni political resolutions on Yemen, noting that “what is continuous session to follow up develop- try’s security, stability and unity. tive mechanism and the output of the nation- powers and parties to hold the country’s taking place in Yemen at present constitutes ments. Kuwait’s First Deputy Prime Minister According to the statement, the al dialogue, the Ministers said in the state- higher interest above all, so that the country a threat to the international safety and secu- and Foreign Minister Sheikh Sabah Al-Khaled Ministerial Council had followed with deep ment. The bloc stressed that Yemen’s security might not slide into more chaos. rity in the region and the world at large.” Al-Hamad Al-Sabah attended the extraordi- concern the “terrorist acts by the Houthis and is part of the security of the GCC member Meanwhile, the statement underscored The statement pointed out that the GCC nary GCC meeting. — KUNA KUWAIT: Minister of Public Works, Electricity, and Water Abdul-Aziz Al-Ibrahim, ministry officials, engineers and workers in a group photo. — KUNA photos Power grid gains 1,000 MW before summer: Minister KUWAIT: The nation’s power grid stands to gain about 1,000 megawatts before the onset of the hot summer season, due to expansions in major power plants, said the Minister of Public Works, Electricity, and Water Abdul-Aziz Al-Ibrahim yesterday. After having toured the southern Al-Zour power plant, the minister indi- cated in a press statement that expan- sion plans at the plant would add no less than 500 megawatts to the national grid. The same is true of the Al-Sabbiya power plant whose expan- sion will also provide 500 more megawatts before the arrival of the hot summer season, said the minister.