(MENAFN) Investment in rail projects is accelerating throughout the Middle East and North Africa region (MENA), with at least USD167 billion-worth of active or future rail or metro projects being planned, Saudi Gazette reported.
After many years of neglecting rail infrastructure, the last decade witnessed a surge in railway construction. Since 2000 around USD90 billion-worth of rail and metro contracts has been awarded in the Middle East.
Saudi Arabia is the largest market, with around USD44 billion-worth of contracts, which is more than double Algeria, the second largest market, which has USD17 billion-worth, and the USD13.8 billion-worth of deals awarded in Qatar, which is at third place.
Saudi Arabia is also the largest rail market in terms of future projects, mainly due to giant projects such as the Makkah and Jeddah metros, the Saudi Land Bridge and the planned cross-country networks, the Kingdom will offer billions of dollars-worth of future projects.
Meanwhile, record total USD200 billion worth of rail investment is planned in the Middle East and North Africa, which equates to more than 33.700 kilometers of mainline routes and 3.000km of metro.
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