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FINANCIAL NEWS
Oman seeks bidders for rail project
19 Apr 2010
(MENAFN) Reuters reported that the Omani government has invited two separate bids for the project management and design work for its 500 kilometers railway project.
The project will build a slow passenger and freight services as well as express passenger railway lines.
The railway system will connect all the ports, airports and free zones in the country and is expected to generate a revenue of about $250 million in its first year of operation, a finance ministry official said.
The project is expected to be completed in 2017 and the government is seeking to award the construction of the projects in three phases.
The trains in Oman will be part of the GCC’s $20 billion 1,900 kilometer-long network. Every GCC state member will build their own railway lines for the common regional link.
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