Greek archaeologists plan to excavate an ancient colony founded by Alexander the Great in the Gulf of Kuwait in the fourth century BC, officials said Wednesday.

"The site on Failaka Island is of particular importance to [Greece] as it was founded by Macedonians and other Greeks on Alexander the Great's expeditionary force," said culture ministry general secretary Christos Zahopoulos.

The agreement between Greece and Kuwait signed in July will enable the Greek team to excavate the ancient town of Icarus on the island, organize the site, and restore its finds, the ministry said in a statement.

The Greek mission's departure date was not announced.

Prior excavation on Failaka Island by French archaeologists has partially unearthed the Greek outpost, believed to have been created by forces under the command of Alexander's admiral Nearchus in the fourth century BC.

A temple to Artemis, the ancient Greek goddess of hunting, has been found on the site along with Greek coins, idols, vessels, and an inscription bearing 43 verses in Greek, Zahopoulos said.

The inscription sustained damage in the Iraqi invasion of 1991, which also forced the evacuation of Failaka's inhabitants.

Archaeologists from Denmark, the US, Italy, and Slovakia have also worked on the now-deserted island, whose name is believed to be descended from 'fylakio,' the Greek word for outpost.

The ruler of the ancient kingdom of Macedon, based in modern-day northern Greece, Alexander the Great created through conquest an empire stretching into modern-day India and Egypt.