MUSCAT, Oct 17 —Wealthy Gulf states have agreed in principal to extend their multi-billion dollar railway project to Yemen, their poorer neighbour on the Arabian peninsula, a United Arab Emirates official said today.
The six countries in the Gulf Cooperation Council (GCC) — a loose economic bloc that comprises Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain — are spending more than US$100 billion (RM336.6 billion) on various rail projects to ease congestion in the face of poor public transport networks and a growing population.
The Gulf Arab rail network alone will cost US$20-US$25 billion as the six oil producers seek to create a similar model to Europe’s high speed rail system.
The 1,940-km railway would connect the six Gulf states, each of which would contribute a share of the start-up capital. Yemen had asked for the railway be extended over its border with Oman.
‘“The GCC has accepted in principle to extend the railway link to Yemen from Oman,’“ said the official, who was attending a meeting of Gulf policymakers in Oman.
Yemen, which is not in the GCC, is facing an insurgency in the north where Zaidi Shi’ite Muslims took up arms against the government in 2004, as well as frequent clashes with separatists in the south.
Gulf officials also agreed on Saturday to appoint a single authority for the rail project and approved its design.
Dubai opened the initial phase of its US$7.62 billion metro project in September. Other cities including Riyadh, Mecca and Kuwait are also planning rail systems. — Reuters
This is an archive of newsclips on CONSTRUCTION INDUSTRY with a good dose of those on ECONOMY thrown in as well. The contents of this blog are purely archival and do not represent anything on the one who blogs, or any persons, pets, properties, accessories or entities associated with him. The blogger is not responsible for any inaccuracies that may be inherent in the materials.
Sunday, October 18, 2009
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About Me
- burhanlong
- A seeker of success (whatever that means) treading on a path, searching, to return to the wholesomeness that was him when he was launched into this big school called Earth.
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