Qatar sets up new $100m railway company

Qatar has launched a new $100m company to drive development in the country's railway network, it was reported on Thursday.

The Gulf state hopes to have a full-fledged railway system in Doha and outside the city, with links to other countries as well, by the year 2026, officials said.

The company named Qatar Railway has been launched with an initial capital of $100m.

“This is just the initial capital. More funds will flow in as time passes by...The entire railway project has been assigned to Qatari Diar,” CEO Ghanem Saad Al Saad said in comments published by The Peninsula.

Work on the mega railway project is expected to begin in 2012 with the first phase seeing the towers area in West Bay to be linked to a monorail system.

Subsequently, work on a metro rail project will begin and then plans for long-distance trains will be launched, the company said.

Al Saad said it was an "ambitious rail transport venture" and more details would be announced soon.

He added that an international consultancy firm has already been appointed and it is expected to start work within two weeks.

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