The total value of GCC railway projects in the pipeline stands at more than $240 billion at present, with $69 billion worth of projects currently under construction, according to a report.

In terms of overall expenditure on rail, Saudi Arabia and the UAE are spearheading the regional growth.
As of January 2017, the kingdom had registered the highest rail construction project value of 50 per cent, followed by the UAE (18 per cent) and Qatar (17 per cent), according to a report produced by Terrapinn Middle East in collaboration with leading construction projects tracker Ventures Onsite.

Key projects expected to be awarded to contractors in the Saudi market in 2017 are Zulfi-Al Majmaah Passenger Railway, North South Rail - Waad Al Shimal-Turaif-Al Jouf (ST320), Makkah Mass Rail Transit (MMRT) - Makkah Metro, it stated.

The planned investments of $30 billion in the UAE’s railway networks include that of Abu Dhabi Metro and Light Rail, skyTran Yas Island, the next stages of the Etihad Rail national network, the Dubai Metro extension for Expo 2020 and the new stages of the Al-Sufouh Tram, said the report released ahead of Middle East Rail, a major industry event being organised by Terrapinn Middle East in Dubai.

The biggest and most established transport and logistics event in the region, Middle East Rail will run from March 7 to 8.  It is being held in partnership with the Ministry of Infrastructure Development and the Federal Transport Authority - Land & Maritime.

The event will see over 200 speakers discuss their experience and insights within the rail industry.

“Within the next 10 years, we will see a complete reform of mobility across emerging markets,” remarked Jamie Hosie, the event director.

“Congested urban roads, increasing populations and the need for seamless trade corridors continue to drive immense investment in the railway sector –  and with the effects of low oil prices subsiding, new projects, extensions, upgrades and improvements are back on track,” he stated.

The Middle East and North Africa (Mena), Central Asia and South Asia hold the largest selection of freight and urban transport projects across the globe, with over $642 billion worth of planned railway investments, said the organsiers.

For the 11th edition of Middle East Rail, the organising committee has extended its project focus to new markets, including Central Asia and Indian Subcontinent, in addition to Mena region.

Over 350 world-class construction and engineering companies, contractors and solution providers, E2Es and international operators, and rail experts will participate to offer their services and play their part in the systems of the future, it added.-TradeArabia News Service