KUWAIT CITY, May 18: The Public Authority for Industry has missed a golden opportunity for the business community, trade and investment, because it was too late in creating additional storage areas in the country, as a result of the development of one million square meters allocated for this purpose, reports Al-Qabas daily.
The sources following up the issue said that due to the urgent need for many sectors in the country for storage sites, and in order to eliminate the random storage that is currently happening through the exploitation of some plots such as farms and infringements on state property, the Municipal Council has stepped in at the request of the concerned authority.
The Cabinet in 2010 had allocated a total area of one million square meters to the Public Authority for Industry (PAI) to set up a warehouse in Kabad.
The decision stipulated that the implementation should begin within two years from the date of issuing the decision, otherwise it would be considered null and void.
As a result of the failure of the PAI to comply with the time limit set by the decision to implement the project within two years, PAI received a letter from thye Municipality stating the decision of allocating the land is considered null and void.