CEO says mutli-billion project will be completed ahead of schedule to escape escalating costs
Qatar is working on a plan to complete its multi-billion dollar rail project ahead of schedule as it looks to escape escalating costs from delays, the CEO of the project manager has said.
Saad Al Muhanadi, CEO of the Qatar Rail Company, told the Qatar Arabic language daily, Al Sharq that the project was ‘on schedule’ and that 21 of the planned 25 stations are under construction and progressing ‘very well’, in line with the company’s timetable.
“QRC has devised a plan to prevent any delay in the execution of the project to avert any increase in costs,” he said. However, he conceded that work was yet to start on the remaining four sites.
Al Muhanadi added that besides the foreign firms which won the massive rail contracts, Qatari companies have also picked up a share of the projects, by partnering with the foreign firms.
“The contract stipulates partnership between the foreign and Qatari contractors, with a range between 10% and 20%, from project to project,” he explained. “Most of the consortiums that qualified and won the first phase of this project include Qatari partners.”
Formed in 2011 to undertake the rail project, Qatar Rail Company has already agreed contracts worth $8.2 billion. The project is scheduled to be completed in 2019.
The planned metro network will be 230 kilometres long, while the long range rail will stretch across 510 kilometres of the country.