$352bn railway projects underway in Middle East
$352bn railway projects underway in Middle East :Sixteen major railway projects worth $352bn are currently under way in the Middle East, according to Terrapinn Middle East.
“With current market conditions as they are, it’s a great opportunity for international rail suppliers to enter the market”, Jamie Hosie, projoct director for Middle East Rail said.
“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”, he added.
Kuwait, Saudi Arabia, the UAE and Oman are likely to net the biggest windfalls, with logistics forecast to contribute 13.6%, 12.1%, 11.7% and 11.7% to their respective economies by 2018, according to the ICAEW Economic Insight Middle East report.
Middle East Rail, which will run from March 8 to 9 at Dubai International Convention and Exhibition Centre, will be held under the patronage of His Highness Sheikh Mansour Bin Zayed Al Nahya, Deputy Prime Minister, Minister of Presidential Affairs, UAE and in partnership with the UAE and the Federal Transport Authority – Land & Maritime.
The show, which will feature over 300 exhibitors, will spotlight project updates, with key government departments, railway operators and construction companies giving a first look at 2016 tenders and an understanding of the techniques and technologies being implemented to build there futuristic networks.
Siemens, Greenbriar, , Autodesk and Ansaldo are among the main sponsors for this year’s show.
Commenting on the 10th anniversary of the show, Hosie said: “For almost a decade, Middle East Rail has helped shape the regional rail market through knowledge sharing, educating the market and facilitating influential meetings.
“In 2016, visiting ministries and rail operators from the Middle East, North Africa, Central Asia and the Indian Subcontinent will discuss the development of passenger and freight rail projects alike and the key challenges faced in rolling out and operating successful rail networks.”
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