Your single point of reference for all your Geotechnical Inquiries

GCC has $240 bln worth rail projects in the pipeline

Zawya   07 February 2017   GCC   Middle East  

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 $642 billion worth of planned railway investments, according to Terrapinn Middle East, organiser of Middle East Rail, which will be held from March 7 and 8 in Dubai. “Within the next 10 years, we will see a complete reform of mobility across emerging markets,” said Jamie Hosie, Event Director of Middle East Rail 2017, the biggest and most established transport and logistics event in the region. “Congested urban roads, increasing populations and the need for seamless trade corridors continue to drive immense investment in the railway sector — and with the effects of low oil prices subsiding, new projects, extensions, upgrades and improvements are back on track.”

According to a report produced by Terrapinn Middle East in collaboration with leading construction projects tracker Ventures ONSITE, the value of total GCC rail projects in pipeline stands at over $240 billion, with $69 billion worth of projects currently under construction. In terms of overall expenditure on rail, the Kingdom of Saudi Arabia (KSA) and the UAE remain atop all of the GCC. As of January 2017, KSA had registered the highest rail construction project value of 50 per cent, followed by the UAE (18 per cent) and Qatar (17 per cent).

Key projects expected to be awarded to contractors in KSA market 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.

User Rating:
You must be registered to vote.