Published: November 23, 2009
Qatari Diar Real Estate Investment Company, a property investment fund, has signed a joint venture with Deutsche Bahn, Germany’s national railway operator, to create the Qatar Railways Development Company (QRDC) in a deal worth US$26bn.
The joint corporation, in which Qatar Railways holds 51% and Deutsche Bahn 49%, will be responsible for developing and integrating Qatar’s railway network, encompassing a range of transport modes such as a metro system, long distance passenger travel and freight transport.
QRDC will also connect Qatar’s network to neighbouring countries via the Bahrain-Qatar causeway to create the region’s first fully integrated railway system.
The railroad network will take about 15 years to complete, but the national railroad and the local commuter system for Doha is expected to be 70% built by 2017 to support the Gulf nation’s bid for the World Cup in 2022 and the Olympics in 2020.