• Home
• /
• Economy
• /
• Business

Gulf rail deadline may be reset amid oil drop

Dubai - The completion target date of 2018 is unfeasible, and the GCCmember countries will meet in the Saudi capital of Riyadh next month to set a new deadline, UAE Minister of Infrastructure Development Dr Abdullah bin Mohammed Belhaif Al Nuaimi said. The regional scope would remain unchanged, he said.

Development of a 1,350-mile (2,170- kilometer) railroad network along the Gulf linking Kuwait with the Indian Ocean is likely to be delayed as the six nations involved review budgets for the project because of the drop in oil prices.
The completion target date of 2018 is unfeasible, and the GCCmember countries will meet in the Saudi capital of Riyadh next month to set a new deadline, UAE Minister of Infrastructure Development Dr Abdullah bin Mohammed Belhaif Al Nuaimi said. The regional scope would remain unchanged, he said.
"All of us agreed" at a regional meeting last year to fix a new date, and "we have asked all the ministers to come up with a realistic programme," Al Nuaimi said on Wednesday at a Dubai Press conference. The UAE's Etihad Rail halted contract awards in January for extending lines currently serving the emirate of Abu Dhabi to the western border with Saudi and east to Oman via Dubai. The UAE will re-think its internal rail network if the GCC-wide deadline is deferred, Al Nuaimi said, adding that the idea was to build stronger ties between the six countries and that the national network was a "secondary issue" for the ministry. "The formula will definitely be modified," he said.
Middle East Rail
Middle East Rail 2016 has increased its exhibition space by 25 per cent compared to last year, in response to huge demand from the growing number of exhibitors keen to take advantage of the opportunity to network at the regional rail industry's ultimate marketplace.
The announcement was made at a Press conference held on Wednesday at Ministry of Infrastructure Development. The 10th edition of Middle East Rail is being held on March 8 and 9 in partnership with the Ministry of Infrastructure Development UAE and the Federal Transport Authority - Land & Maritime.
- With inputs from agencies
- business@khaleejtimes.com