GCC to spend $120bn on infrastructure projects over ten years

30/06/2010 - Dubai Investment News
GCC to spend $120bn on infrastructure projects over ten years

Posted by Bob Brunskill

The countries of the Gulf Cooperation Council (GCC) will spend over $119.6 billion on infrastructure projects over the next ten years, with rail projects accounting for more than 90 per cent of the investment, new research shows.

A study by Business Monitor International (BMI) notes that the UAE has already committed $7.6 billion in funds to develop the Dubai Metro red and green lines and another $3.26 billion on several major road projects.

This is in addition to a public-private partnership with Italian construction and infrastructure company Salini Costruttori to overhaul sections of the UAE-Saudi Arabia Highway.

The BMI report comes ahead of the biennial Roadex-Railex event, the largest exhibition for the road, rail and public transport sectors in the Middle East, which is taking place in Abu Dhabi between November 28th and 30th 2010.

Commenting on the findings, exhibition director Richard Pavitt said: "Regional government policy and spending over the next ten years will define the region's transport infrastructure. The amount allocated for investment in rail projects clearly demonstrates the region's strategy for mass transit."

The Abu Dhabi government has invested more than $5.4 billion on road projects over the past three years as part of its ambitious Abu Dhabi 2030 strategic plan.ADNFCR-2019-ID-19866088-ADNFCR