GCC rail projects valued at $106.2bn
The GCC countries are forging ahead with railway projects worth $106.2 billion, new research has revealed.
Saudi Arabia leads the way with a total of 23 projects valued at $25.6bn, including the $6bn Makkah-Madina Railway Link which is currently under tender for construction.
In the UAE, eight railway projects valued at $20.6bn are under way, including the $11bn Emirates Railway Project on which construction begins in the middle of this year.
Meanwhile, Qatar is investing heavily in its transport infrastructure in preparation for the 2022 Football World Cup. The $25bn Qatar National Rail Scheme will link to the GCC Railway network - the $30bn, 2,200 km system that will connect all six GCC states by 2017.
The latest figures have been released by Ventures Middle East ahead of the CityBuild Construction Summit. This runs alongside CityBuild Abu Dhabi, the region’s premier exhibition for construction products, taking place from 17-20 April at Abu Dhabi National Exhibition Centre.
Other major regional railway development also under way include Kuwait’s National Rail Road Network and Metro System worth a combined $17bn, Oman’s National Freight and Passenger Railway valued at $10bn, and Bahrain’s Rapid Transport Network at an estimated $8bn.
Experts set to address the CityBuild Construction Summit will spotlight the growing significance of rail travel in the region and the huge business opportunities available.
“The rail and transit market has never been stronger in the Middle East,” said Tom Topolski, Vice President of Transportation Middle East for Aecom, one of the summit speakers. “The rapid industrialisation of the region has created significant freight rail opportunities.”
VALUE OF RAILWAY PROJECTS IN GCC
Number of projects Projects value (US$) % of GCC rail projects by value
Saudi Arabia 23 25.6 billion 24%
Qatar 1 25 billion 23%
UAE 8 20.6 billion 20%
Kuwait 2 17 billion 16%
Oman 1 10 billion 9%
Bahrain 1 8 billion 8%
Total 36 106.2 billion 100%
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