FINANCIAL NEWS

Qatar to invest USD43.62b on railways infrastructure

26 Nov 2014

Qatar’s Ministry of Transportation announced it is currently working on the development of advanced transport infrastructure in the country, with several projects currently in the planning stages or already underway, QNA reported.

The ministry said that it has already commenced working on building the Doha Metro network, which will have a 233 kilometer long track and 96 stations, with plans to connect the long-distance passenger and goods train connected to the rail of the Gulf Cooperation Council (GCC).

The ministry said that Qatar has plans to invest USD43.62billion to develop the infrastructure of the railway, as well as the development of the railway sector in the country through the development of local Qatari companies, which will service the country and the region as well.

The ministry also said that it is working on improving the country’s public bus service and infrastructure , with Qatar allocating USD1.37 billion for the project, which will be worked on within the next five years, and will include increasing the current fleet of 400 buses to include 2000 buses, as well as inauguration of the Doha Metro.

“The new port project would be a logistics portal, to provide marine transport routes and railways in the region and further promote the development of local industries. It will develop the capacity of Hamad international airport and will be linked with the Doha Metro network and long-distance train passenger and cargo, as well as public buses and taxis to become actually an integrated transport hub “, Qatar’s Minister of Transport said.

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