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FINANCIAL NEWS
ME rail, metro projects amount to USD300b
22 Oct 2014
(MENAFN) A USD300 billion worth of rail and metro projects are planned to be launched in the Middle East & North Africa (MENA) region, Saudi Gazette reported.
“Every single country in the MENA region has rail project ambitions,” MEED Projects’ director of analysis Ed James said. “Not all of these projects will go ahead, but the figure is indicative of the scale of what is happening.”
James confirmed that he and Saudi Arabia have the largest rail project pipeline in the region with over USD100 billion, including the Riyadh Dammam High-Speed Rail, along with the Eastern Province Municipality – Dammam Metro.
Qatar boasts a rail and metro project pipeline USD40 billion worth, followed by the UAE with USD30 billion. Across the region, the other big investments will be seen in Egypt, Iran, Kuwait and Oman.
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