US$352 billion railway projects underway in the Middle East

The Middle Eastern & North African countries are forging ahead with plans to establish a strong passenger and freight transport network with 16 major railway projects worth US$352 billion currently under way in the region, according to Terrapinn Middle East, organiser of Middle East Rail, which will be held from March 8 to 9 at Dubai International Convention and Exhibition Centre.

“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. 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”, said Jamie Hosie, Project Director, Middle East Rail.

According to ICAEW Economic Insight Middle East report, Kuwait, Saudi Arabia, the UAE and Oman will likely net the biggest windfalls, with logistics forecast to contribute 13.6 percent, 12.1 percent, 11.7 percent and 11.7 percent to their respective economies by 2018.

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