GCC countries are forging ahead with railway projects worth $106.2 billion, new research has revealed in the build up to next month’s CityBuild Construction Summit in Abu Dhabi.
Saudi Arabia leads the way with a total of 23 projects valued at $25.6 billion, including the $6 billion Makkah -Madinah Railway Link, which is currently under tender for construction.
In the UAE, eight railway projects valued at $20.6 billion are underway, including the $11billion Emirates Railway Project in which construction begins in the middle of this year.
Meanwhile, Qatar is investing heavily in its transport infrastructure in preparation for the 2022 FIFA World Cup. The $25 billion Qatar National Rail Scheme will link to the $30 billion GCC Railway network, which is a 2,200-kilometre system that will connect all six GCC states by 2017.
Highlighting enormous opportunities for suppliers of construction products, the latest figures have been released by market research company Ventures Middle East ahead of CityBuild. This runs alongside CityBuild Abu Dhabi, the region’s premier exhibition for construction products, taking place from April 17 to 20 at the Abu Dhabi National Exhibition Centre. Emirates Steel is a Principal Sponsor of the summit.
Other major regional railway developments under way include Kuwait’s National Rail Road Network and Metro System worth a combined $17 billion, Oman’s National Freight and Passenger Railway valued at $10 billion, and Bahrain’s Rapid Transport Network at an estimated $8 billion.
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.
Source: Khaleej Times