GCC eyes $109bn rail investment in next 10 years
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 · 31 Dec 09
Luckily Dubai has built one and they can wait to see the results of that before going ahead with their own.