GCC plans $79bn rail projects by 2020
Dubai, March 18, 2012
The GCC will see an estimated $79 billion worth of railway projects - including rail, metro, tram, and stations - in the region between 2011 and 2020, according to a report.
This includes the $30 billion GCC rail network, to be shared among the member countries, said a report by Kuwait-based investment bank, Kuwait Financial Centre or Markaz.
The UAE is by far the most dynamic country with a share of close to 42 per cent, followed by Qatar which is set to catch up with a share of 22 per cent,' the Gulf News reported citing the Markaz.
Dubai has spearheaded the GCC in unveiling the first phase of its Metro project, as other countries are now planning or discussing their versions — they are also planning for a pan-GCC rail network, the report stated.
For the roads sector, however, the total value of ongoing projects in the GCC, using a bottom-up approach, is an estimated $18 billion at the end of last June, it added.