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FINANCIAL NEWS
ME’s railway projects reach 200b
10 Oct 2014
(MENAFN) The MENA region is experiencing a surge in investments in railway projects, with more than USD200 billion worth of rail and metro projects either being planned or underway in the Middle East and more than 33,700km of mainline routes and 3,000km of new metro lines being currently constructed, Khaleej Times reported.
The Middle East is currently amongst the fastest growing market for rail and transit in the world, especially due to cities growing and mobility increasing which all create the need for robust public transportation networks.
In The GCC, Saudi Arabia is planning its first high-speed railway with the 450km Haramain High Speed Rail project which will connect Jeddah with Riyadh and the holy cities of Makkah and Madinah and it is scheduled to open in 2015.
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