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Kuwait Finances Chinese Airport Construction
The Kuwaiti government has committed to extending 9.5 million Dinar (about US$30.87 million) of long-term credit for the construction of an airport in west China.
Vice-Finance Minister Jin Liqun and Kuwaiti Ambassador to China Abdul-Muhsen Nasir A. Geaan attended Friday's signing ceremony held at the Diaoyutai State Guesthouse.
The airport, located in Panzhihua city, a heavy industrial base in southwest China's Sichuan Province, will cost a total of 812 million yuan (about US$97.8 million) and will be completed in 2003.
Geographic disadvantages and transportation inconveniences have hampered the economic development of the city, which, rich in vanadium, titanium, iron, coal and water resources, is famous for its iron and steel and power industries.
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