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FINANCIAL NEWS
GCC’s USD30b railway delayed until 2020
05 Mar 2015
(MENAFN) UAE minister of Public Works said that the GCC’s regional railway project is two years behind schedule and is not going to be completed until 2020, Arabian Business reported.
According to the minister, UAE and Saudi Arabia are set to meet the original deadline of 2018, but other GCC countries will not cope with the two leading and companies and are forecast to be shelved till 2020.
‘The primary total cost of the GCC rail stands at USD20 billion. However, the expenses are expected to jump to around USD30 billion,’ the minister said in a statement.
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