More rail construction projects in Mena in the pipeline

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More rail construction projects in Mena are in the pipeline as there are  currently sixteen major railway projects worth $352bn that are underway in the region, according to Terrapinn Middle East.

Saudi Arabia leads in expected investment in rail services, at $118.9bn, which includes rail projects like metro, tram, high-speed, and long-distance freight and passenger networks.

Qatar has planned investments worth $46.7bn, along with Algeria ($34.4bn), Egypt ($30.9bn), the UAE ($27bn) and Iran ($24.6bn). Oman, Kuwait, Iraq and Bahrain have investments ranging between $17bn and $12bn, the company said.

According to another report by the Institute of Chartered Accountants in England and Wales (ICAEW), Kuwait, Saudi Arabia, the UAE and Oman will likely see the biggest windfalls, with logistics forecast to contribute 13.6%, 12.1%, 11.7% and 11.7% to their respective economies by 2018.

“With current market conditions as they are, it’s a great opportunity for international rail suppliers to enter the market. Governments are now diversifying their resources, putting more emphasis on projects that are not oil-related,” said Jamie Hosie, project director at Middle East Rail.

“With transport and logistics sectors playing an increasingly important role in the region’s economies, governments are now looking towards innovative technologies to boost economic sectors that will boost intra-regional trade and tourism activities.
The MENA region is one the most growing region in the current times considering the fact that it’s comprised of growing countries which are enthuastic and looking forward to improve their infrastructure.
The presidents in the regions are currently in the race to sign different contract with various international companies and countries to fund and construct the ongoing and starting up projects.