GCC to set up USD16b railway 

(MENAFN) World Bank adviser at the GCC Secretariat, Ramiz Al Assar, stated that during 2014's first quarter, the 6 countries of the GCC will finish a feasibility study on the establishment of an inter rail worth around USD16 billion, reported Emirates 24/7.

Al Assar said that after the completion of the study, the countries would start the ambitious project, which is expected to boost the common market and increase inter-GCC trade and investment.

He noted that almost USD4.5 billion will be invested in the construction of another causeway for the rail between Saudi and Bahrain, whereas another USD11.5 billion could be invested in the establishment of the rail link between Saudi and the other 4 GCC states.

Al Assar noted that as part of the rail project, both the UAE and Saudi Arabia have already established 200 km of rail road.