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July 5, 2010

GCC to Invest $119bn in Rail Projects by 2020

The Gulf Cooperation Council (GCC) is planning to invest over $119.6bn in infrastructure projects, of which 90% will be diverted towards rail projects, according to a recent study. The Business Monitor International study said the investments will be made over the next ten years, accordi

By cms admin

The Gulf Cooperation Council (GCC) is planning to invest over $119.6bn in infrastructure projects, of which 90% will be diverted towards rail projects, according to a recent study.

The Business Monitor International study said the investments will be made over the next ten years, according to omanet.om.

Saudi Arabia will spend an estimated $25bn on the Saudi Landbridge project, the 450km Haramain high-speed railway and the North-South railway.

The UAE is also planning to invest $7.6bn in a 131km monorail track in Dubai that will mostly be underground.

The study also said that significant amounts are being invested in infrastructure projects in Kuwait, Bahrain and Qatar, notably the $4bn Qatar-Bahrain causeway.

The GCC will also propose a major rail project, estimated to cost around $25bn, and scheduled for completion in the next six years.

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