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November 23, 2009

Euros 17 billion Qatar rail project moves ahead

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GERMAN Rail (DB) has secured an exclusive deal with the recently-formed state-owned Qatar Railways Company that will push forward plans for a Euros 17 billion project to build a metro and railway in Qatar.
The deal, which was formally signed yesterday by Dr Rüdiger Grube, CEO and chairman of the DB management board, in the presence Qatari head of government Sheikh Al Thani and German transport minister Dr Peter Ramsauer, establishes the Qatar Railways Development Company, in which DB will hold a 49% stake and state-owned Qatari Diar the remaining 51%.
The new company will be responsible for planning and managing construction for a new four-line, 300km metro in Doha, the Qatari capital as well as a mainline network. A three-stage plan is already in place for construction, which in addition to the metro, will create a 325km rail network and establish a 180km, 350km/h international rail link to Bahrain and a 100km, 200km/h link to Saudi Arabia.

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