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17 October 2017 22:30 (South Africa)

Deutsche Bahn and Qatari Diar sign US$26-billion rail deal

A US$26-billion contract to build rail and underground lines in Qatar and Bahrain has been signed by German rail operator Deutsche Bahn. As a key a part of the gas-rich sheikdom's expansion plans, the Qatari Diar Real Estate Investment Company and Deutsche Bahn will set up a joint venture to develop a metro system in Doha, consisting of four lines and 98 stations, as well as a national rail network and a long-distance connection to neighboring Bahrain, with trains reaching speeds of 350km/h. The contract will create a new company called the Qatar Railways Development Company, which will be 49 percent owned by Deutsche Bahn and 51 percent by Qatari Diar. Read more: BusinessWeek

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