GCC eyes $109bn rail investment in next 10 years

by mahmood on 31/12/09 at 10:04 am

GCC nations are planning to invest $109bn on rail projects in the next 10 years as officials look to solve traffic congestion issues, according to a new report by Kuwait Financial Centre (Markaz).

Road expansion projects will also continue with a total of $14.45bn planned to 2019 but $3.8bn worth of highways work has been cancelled due to the impact of the global economic crisis.

Of the cancelled projects, $3bn is from Saudi Arabia alone, Markaz said, adding that of the total $10.6bn due to be invested, Kuwait projects make up close to 40 percent.

Source: ArabianBusiness.com

One Response to “GCC eyes $109bn rail investment in next 10 years”

  1. Hussain

    Jan 1st, 2010

    Luckily Dubai has built one and they can wait to see the results of that before going ahead with their own.

Leave a Reply


You must be logged in to post a comment.