Value of total GCC rail projects in the pipeline stands at over $240 bn

Value of total GCC rail projects in the pipeline stands at over $240 bn

A report produced by Terrapinn Middle East in collaboration with leading construction projects tracker Ventures ONSITE shows the value of total GCC rail projects in pipeline stands at over $240 billion.

By bq staff -  Feb 5, 2017

An estimated $69 bn worth of projects are currently under construction. In terms of overall expenditure on rail, Saudi Arabia and the UAE remain atop all of the GCC. As of January 2017, Saudi Arabia egistered the highest rail construction project value of 50%, followed by the UAE (18%) and Qatar (17%).

Terrapinn Middle East is the organizer of Middle East Rail, which will be held from 7 to 8 March in Dubai.

“Within the next 10 years, we will see a complete reform of mobility across emerging markets,” said Jamie Hosie, event director, Middle East Rail 2017.  “Congested urban roads, increasing populations and the need for seamless trade corridors continue to drive immense investment in the railway sector.”

Hosie added: “With the effects of low oil prices subsiding, new projects, extensions, upgrades and improvements are back on track.”

Key projects

Key projects expected to be awarded to contractors in the Saudi market in 2017 are the Zulfi-Al Majmaah Passenger Railway, North South Rail-Waad Al Shimal-Turaif-Al Jouf (ST320), Makkah Mass Rail Transit-Makkah Metro.

The planned investments of $30 bn in the UAE’s railway networks include that in 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.

Hosie said: “Operators are looking to source new technologies, educate their staff on best practices and find the perfect partners for 2017. There are a number of obstacles facing new rail projects apart from project finance, such as operational structures, technological expertise and political dynamics of cross-border networks.”

http://www.bq-magazine.com/industries/infrastructure-industries/2017/02/value-total-gcc-rail-projects-pipeline-stands-240-bn

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