Over USD 200bn to be invested in GCC railway projects

The Gulf Cooperation Council (GCC) member states are estimated to invest over $200bn in establishing a wide-network of integrated railways across the region over the next few years.
“Over USD 200bn will be invested in over 40,000km of rail across the GCC. This provides a good environment to attract companies, manufactures, human resources and capital to the region,” said Ahmed bin Mohammed bin Salim Al Futaisi, the Minister of Transport and Communications, Oman, at the “GCC Rail and Metro Conference 2015”, in Muscat.
This massive investment is not only expected to create scores of additional jobs and protect environment in longer-run, but a long network of GCC rail is also likely to deepen socio-economic and political integration in the region.
Al Futaisi said: “Our challenge will not just be in how to ensure the success of executing these projects from a technical and operational point of view, but on how to exploit the socio-economic potential of these massive investments so to ensure the multiplier effect into our economies.”
“The GCC rail project is one of a kind, ambitious and complex in nature,” said Ramiz al Assar, Resident World Bank Advisor, GCC. “It will link six member states as a regional transport corridor, further integrating with the national railway projects, deepening economic social and political integration, and it is developed from a sustainable perspective.”