GCC rail projects worth $240bn in the pipeline
The total value of GCC railway projects in the pipeline stands at more than $240bn at present, with $69bn worth of projects currently under construction, according to a recent report.
In terms of overall expenditure on rail, Saudi Arabia and the UAE are spearheading the regional growth.
As of January 2017, the kingdom had registered the highest rail construction project value of 50%, followed by the UAE (18%) and Qatar (17%), according to a report produced by Terrapinn Middle East in collaboration with construction projects tracker, Ventures Onsite.
This report is released ahead of Middle East Rail, a major industry event being organised by Terrapinn Middle East in Dubai.
Key projects expected to be awarded to contractors in Saudi Arabia in 2017 are Zulfi – Al Majmaah Passenger Railway, North South Rail – Waad Al Shimal – Turaif – Al Jouf (ST320), Makkah Mass Rail Transit (MMRT) – Makkah Metro, it stated.
The planned investments of $30bn in UAEs railway networks include that of Abu Dhabi Metro and Light Rail, skyTran Yas Island, the next stages of the Etihad Rail national network, the Dubai Metro extension for Expo 2020 and the new stages of the Al-Sufouh Tram, said the report.
The Middle East, North Africa, Central Asia and South Asia hold the largest selection of freight and urban transport projects across the globe, with over $642bn worth of planned railway investments, added the report.
