GCC eyes $109bn rail investment in next 10 years

01/01/2010 by: Anwar

GCC nations are planning to invest $109bn on rail projects in the next 10 years as officials look to solve traffic congestion issues, according to a new report by Kuwait Financial Centre (Markaz).

Road expansion projects will also continue with a total of $14.45bn planned to 2019 but $3.8bn worth of highways work has been cancelled due to the impact of the global economic crisis.

Of the cancelled projects, $3bn is from Saudi Arabia alone, Markaz said, adding that of the total $10.6bn due to be invested, Kuwait projects make up close to 40 percent.

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