FINANCIAL NEWS

GCC USD100b rail projects demonstrate significant progress

02 Apr 2015

(MENAFN) The previously launched USD100 billion rail projects by the GCC governments are depicting significant progress, with Saudi and UAE making the sturdiest strides up-to-date, Arabian Business reported.

The progress is evidenced by the thorough engineering and design plan for the next 2177km segments of the GCC rail network, which is set for completion later this year, with a date yet undefined.

Etihad Rail project previously finalized its120km seaside section in the UAE, with the second phase to be launches soon. Qatar Rail is waiting for further bidding to pre-qualify for a design and build contract for its first stage.

“We will have a meeting of the GCC Railway expert working group in Abu Dhabi on May 11-14 to finalize common guidelines for operation and institutional and regulatory requirements,” a senior transport specialist said.

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