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Investments in railway hits USD 40 billion
The six-member Gulf Cooperation Council (GCC) will discuss the likelihood of constructing a regional rail network by 2021 at a meeting of regional ministers in April, a United Arab Emirates minister said on Tuesday. The regional bloc made up of Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar last year reached an agreement in principle to delay the 2018 completion date until 2021. "Commitment is there. Maybe by April we would know once we have the GCC ministerial meeting," UAE Minister of Infrastructure Development Abdullah Belhaif al-Nuaimi told reporters on the sidelines of press conference at the ministry's offices in Dubai.
Investments in railway networks includes Abu Dhabi Metro, Skytrain in Yas Island, National network of etihad railways and expansion of Dubai Metro to Expo 2020. This was announced in the press conference announcing that the Middle East Rail conference will start March 7-8, 2017 at Dubai International Convention and Exhibition Centre.