Qatar: $25bn deal puts rail project on track |
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DOHA: Qatar plans to see most of its $25bn dream integrated railway project ready by 2022, officials said after signing one of the world's largest deals with German rail operator Deutsche Bahn (DB) here yesterday.
The entire project is slated for completion in 2026, but a substantial part is to be ready by 2022 before FIFA World Cup which Qatar hopes to host that year.
Qatari Diar Real Estate Investment CompanyQatari Diar Real Estate Investment Company
represented by Qatar Railway Company (Rail) has entered into a joint venture with DB to set up Qatar Railways Development Company (QRDC). QRDC will be 51 percent owned by Qatari DiarQatari Diar and 49 percent by DB.
Ghanim bin Saad Al Saad, Managing Director and CEO of Qatari DiarQatari Diar, signed the deal with Dr Ruediger Grube, Chairman and CEO of Deutsche Bahn AG, at the Emiri Diwan in the presence of the Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani and German Federal Minister of Transport, Building and Urban Development, Peter Ramsauer.
Qatari DiarQatari Diar will be the sole entity responsible for developing and integrating Qatar's railway network, encompassing a range of transport modes such as metro systems, long-distance passenger and freight trains.
QRDC will unify all planned railways in Qatar, ranging from the Doha metro network and the railway network to transport commuters from Lusail City, Education City, West Bay to other places such as Doha International Airport and Ras Laffan Industrial City.
It will also connect Qatar's network to neighbouring countries via the Bahrain-Qatar causeway, to create the region's first fully integrated railway system.
The announcement signals Qatar's much-anticipated state-of-the-art integrated national railway network formally moving ahead into the development stage.
Al Saad told a news conference yesterday at Qatari DiarQatari Diar Headquarters in Lusail that QRDC is about to put the final touches to the initial study, and agreed on the concept design for the integrated railway network.
By Nasser Al Harhty
© The Peninsula 2009
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