Major rail contractors from Spain, Italy, China, Turkey, South Korea, Germany and France are vying for lucrative construction contracts linked to Segments two, three and four of Oman’s ambitious National Railway Project, said a report.
UAE-headquartered contractor Drake & Scull said one of its subsidiaries has entered into strategic partnerships with industry experts to grab a major share of the billion-dollar railway infrastructure contracts in the GCC region.
Oman will soon start work on the first line of its ambitious railway project connecting Buraimi to Sohar and also award contracts for key road projects as part of its plans to boost the sultanate's transport sector, said a report.
The countries in the Gulf region are set to spend over $100 billion on setting up modern rail networks connecting all countries of the Arabian Peninsula, said an expert citing study reports.
These projects will in turn help transform trans
Saudi-based Islamic Development Bank (IDB) is in talks with several global financial institutions to secure funds for Jordan's ambitious $5 billion railway project, said a report.
The project is set to change the re
Astaldi, Italy's No. 2 builder, wants to build hospitals, railways and power plants in Turkey because of its rapid economic growth and strategic position between Europe and Asia, Chairman Paolo Astaldi said Thursday.
Astaldi is also intere
Riyadh may delay the $7 billion landbridge rail project amid speculation the government will step in to wholly fund the plan instead of opting for an initial 50-year build-operate-transfer deal financed through debt, said a report.
The UAE government has given the green light to its ambitious $3 billion railway project, that will link all the seven emirates, and will start seeking tenders by 2015, said a news report.
The emirates-wide rail network, which wi