“Encouraging Direct Investment” Attracts a Chinese Waste Processing Company

The Kuwait Direct Investment Promotion Authority (KDIPA) attracted the Chinese company Bangjin Newtide Energy Technology Co., Ltd., which established its Kuwaiti subsidiary, Newtide Kuwait, with a capital of 5 million Kuwaiti dinars. According to the company’s articles of association, the contract duration is 99 years, commencing from the date of the company’s establishment, and may be extended before its expiry by a decision of the company’s capital owner. The company will carry out in Kuwait activities related to the processing and disposal of non-hazardous waste, as well as the processing and disposal of hazardous waste. It is also permitted to engage in similar, complementary, necessary, or related activities to achieve its objectives.