Massive investments to be made in GCC transport development
Multi-billion dollar projects include bridges and rail networks
?Qatar, Saudi Arabia and the UAE are to fund transport projects worth US $170 billion over the next 15 years.
More than two thirds of the investment has already been ploughed into rail projects, with Saudi Arabia contributing 85% of the total.
Key projects are to include a number of new bridges; one a 1000km link between Jeddah and Dammam, expected to carry 300 million passengers and one billion tons of freight annually.
Rail projects include the 500km Haramain high-speed rail link, to meet the needs of pilgrims travelling between Mecca and Madinah. Construction of the GCC wide rail network, is expected to begin shortly, with completion due 2017.
“Saudi Arabia’s comprehensive and longterm national plan to enhance transport infrastructure requires an efficient and extensive network of partnerships, expertise and resources,” said Jamie Dowswell, conference director, for Bridges Saudi Arabia 2011.
“Putting all of these elements under one roof provides an excellent platform for the country’s decision-makers and developers to choose the best partners, suppliers and technologies to ensure the success of the Kingdom’s infrastructure developments,” Dowswell added.
Saudi Arabia’s Islamic Development Bank has also announced plans to invest $511million in megaprojects in Albania, Turkey and Pakistan.
