Subject: LUSA: PM Ramos Horta seeks up to US$ 600m in Kuwaiti development financing

04-08-2006 12:27:00. Fonte LUSA. Notícia SIR-8229558 Temas:

East Timor: PM Ramos Horta seeks up to US$ 600m in Kuwaiti development financing

Dili, Aug. 4 (Lusa) - Prime Minister José Ramos Horta departs Friday to Kuwait, where he hopes to get up to US$600 million in financing for major infrastructure projects in East Timor.

"I want to get the process of negotiations with the Kuwait Development Fund underway now for the construction of big projects, like roads, bridges, ports and airports", Ramos Horta told Lusa.

"For projects of this magnitude, carried out over several years, the sum involved is of the order of US$500 million to US$600 million or more" (euros 391 million to euros 470 million), he said.

Dili, he added, had "no other alternatives in terms of development" if it wanted to "modernize, create jobs, and fulfill the government's program to take development to rural zones".

Ramos Horta said he awaited the results of a "preliminary study", financed by Kuwait and carried out by an Indian organization.

The prime minister, who returns home Monday, is accompanied on his visit by Public Works Minister Odete Victor and José Teixeira, the minister for natural resources, minerals and energy policy.

SAS/EL.

Lusa

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