Value of GCC rail projects put at US $107 billion
The value of announced rail projects in GCC countries is around US $106.2 billion, according to research released by Ventures Middle East.
The figures were revealed as part of the build-up to April's CityBuild Construction Summit in Abu Dhabi.
Saudi Arabia, the region's largest economy, has 23 projects budgeted at US $25.6 billion in the pipeline.
In the UAE, eight railway projects with an official development value of US $20.6 billion are underway, including the Etihad Railway, also known as Union Railway.
Light and industrial projects are also on the drawing board in Qatar, Kuwait, Oman and Bahrain. Eventually, the plan is to link cross-country systems in each state together to form a GCC rail grid.
"The rail and transit market has never been stronger in the Middle East. The rapid industrialisation of the region has created significant freight rail opportunities,” said Tom Topolski, VP of transportation for AECOM.
The CityBuild Construction Summit runs alongside CityBuild Abu Dhabi, taking place from 17-20 April at the Abu Dhabi National Exhibition Centre.