LOC16:56
13:56 GMT
KUWAIT, Jan 10 (KUNA) -- The Kuwait Authority for Partnership Projects (KAPP) has invited local, regional and international companies and alliances to submit an expression of interest to invest in Vehicle Auction Market Project in Kuwait, in cooperation with the Ministry of Commerce and Industry.
In a statement it issued on Saturday, the authority said the project came is consistent with the state's policy toward activating the Public-Private Partnership (PPP) program through private sector participation in the implementation and operation of strategic and development projects in the State of Kuwait.
The project shall be implemented under a design, finance, build, operate, and maintain (DFBOM) model by the private sector through a special purpose vehicle (SPV) to be established in the State of Kuwait, after which the project shall be transferred to the State of Kuwait, in accordance with the provisions of Law No. (116) of 2014 concerning Public-Private Partnerships and its Executive Regulations, it added.
This shall be carried out within the framework of the Public-Private Partnership (PPP) in accordance with the provisions of Law No. (116) of 2014, its Executive Regulations, and other relevant legislation governing the Authority's activities, it noted.
The project consists of a modern, integrated, and specialized vehicle auction facility, supported by car showrooms and complementary technical and logistical services. It is based on an integrated physical and digital auction platform, serving as a centralized and organized market for the trading of vehicles in the State of Kuwait.
The Project aimed at organizing and developing the vehicle auction and trading ecosystem in the State of Kuwait in a manner that ensures transparency and efficiency; and developing an integrated digital auction system that complements traditional facilities, in line with international best practices.
The objectives also include supporting the regulation and development of the vehicle trading sector; contributing to improved market efficiency, protecting consumer rights; and attracting experienced investors and operators, from within and outside the State of Kuwait, with relevant expertise in this field.
The Project will be constructed and implemented on a designated plot of land with an approximate area of 500,000 square meters, located in the Jahra Governorate.
The Project site is directly connected to the main road network and occupies a strategic location that provides easy access to major commercial and industrial centers, in addition to regional transport corridors leading to border crossings, it stated.
This shall be done by downloading the Project's Expression of Interest (EOI) form from the official website of the Kuwait Authority for Partnership Projects, free of charge, and submitting it via the Project's designated email address, together with a formal covering letter delivered by hand to the Kuwait Authority for Partnership Projects.
The Authority shall begin receiving expressions of interest as of the date of publication of this announcement and until Thursday, 29 January 2026, with the final deadline being 12:00 noon (local time). (end)
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