Monday 23 December 2024
 
»
 
»
Story

GCC eyes $170bn transport projects

Dubai, April 5, 2011

The Gulf countries will see $170 billion worth of transport projects come up in the next 10 to 15 years as the region strives to meet its pressing logistics demands, said an expert ahead of a key industry event.

'Out of this, 85 per cent will be spent by UAE, Saudi Arabia and Qatar. Precisely over $106 billion will be spent in railway sector alone,” said Satish Khanna, general manager of Al Fajer Information and Services, organisers of the inaugural ‘GulfRail 2012,’ the region's first of its kind exhibition and conference, to be held in Dubai.

Meanwhile, GulfRail will showcase its projects at the upcoming 'World Congress and Exhibition of the International Association of Public Transport' (UITP), a global event being hosted by Roads & Transport Authority (RTA)  in Dubai from April 10 to 14.

This was announced by Dubai's Al Fajer Information & Services, IMAG from Germany and Europoint from the Netherlands. Al Fajer said that the overall objective of GulfRail 2012 was to bring together the establishment of a reliable and regular high speed rail network connecting GCC countries.

'GulfRail 2012 is participating in UITP Dubai 2011 to highlight the investment opportunities and intelligent rail systems in the GCC,' noted Khanna.

Underscoring the importance of participating at the event, Khanna said, “GulfRail is the next big event for the region after UITP Dubai 2011. It is significant to all the countries in the region. Following the Dubai Metro, rail projects in GCC have become a point of focus with multi-billion dollar investments being made by each Gulf state.'

'A countrywide $11 billion railway network in the UAE with 1,500km of track will be rolled out over the next 7 to 8 years. Moreover, Abu Dhabi has revealed plans for a new rail network serving the city of Al-Ain in the emirate's eastern region.'

'Dubai Metro has completed its first phase with a whopping investment of $6 billion, and another mass transit network with 75 km will carry 1.8 million passengers per day by 2020,' he revealed.

According to Khanna, the key driver of the rail industry for GCC is public-private partnerships.

'GCC is heading towards creating a reliable, effective and frequent high speed rail network connecting the Gulf countries. Investment opportunities in intelligent transport systems in the GCC are huge. Many companies outside the region regard the upcoming rail sector in the Middle East as the most lucrative opportunity to do business.”

Khanna pointed out that the last five years have seen the announcement of a series of transport projects by various Gulf countries, including railway projects.

Talking about key rail projects in the pipelin, Johan Haarhuis, managing director, Europoint B.V. Conference & Exhibitions said: 'Abu Dhabi has joined the fray with 131 km metro rail system which is expected to partially start in 2015. In 2009, GCC transport ministers approved a feasibility study for the $12 billion GCC railway.'

'Further, on a broader perspective, the network would extend from the GCC to Jordan, Syria and Turkey. The next move would be a more extensive system linking up with systems providing access to Europe and Asia via Turkey. There are huge upcoming railway projects in Middle East,' Haarhuis added.

According to him, the GCC’s rail sector is a rising sector. 'In a nutshell, the GCC network will include a rail line of 1,970 km connecting all GCC countries and Qatar via a bridge. The second line of 1,984 km will stretch between Kuwait, Saudi Arabia, the UAE and end in Oman,' Haarhuis explained.

'An effective rail network will fortify the region’s position as a major global energy and trading hub,' he added.

Haarhuis said a metro light rail network is also being planned in Doha. On the other side, Bahrain is planning a $8 billion railway project stretching to 184 km that will include light rail trains, monorails and other transportation systems.

'Moreover, Oman too has announced plans for a national rail network to boost infrastructure,' he added.-TradeArabia News Service




Tags: GCC rail project | GulfRail expo | logistics demands |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads