Construction giant reportedly leading the successful consortium on transport project
A consortium led by Italian construction giant Impregilo has been awarded the $2bn design contract for the Red Line North of Doha Metro, according to reports in the Italian press.
According to Italian daily newspaper Il Sole 24 Ore, €630m ($808m) will be spent on the metro design, with another €1.1bn ($1.4bn) budgeted for preparatory works, electromechanical systems, and architectural works, giving a total of just over $2.2bn.
The contract was awarded by the Qatar Railways Company (Qrail) and the successful consortium includes Impregilo (41.25 percent), SK Engineering & Construction and Galfar Engineering & Contracting, the report added.
The Doha Metro project will have an overall length of 300km distributed over four lines: Red, Green, Gold and Blue.
The Doha Metro is part of the $35bn Qatar Integrated Rail Programme (QIRP) and is expected to be completed in time for FIFA World Cup 2022.
The Red Line North will have seven metro stations over 13km of track starting from Msheireb station.
Last month, the managing director of Qatar Financial Centre estimated Qatar will invest $200bn in infrastructure development over the next ten years.
“Infrastructure is vitally important. We plan to invest $140bn over the next five years in projects such as a new airport, a new seaport and a rail and metro system. Total infrastructure investment, including the 2022 FIFA World Cup, will be about $200bn over the next 10 years... Qatar’s investment benefits the whole region, not just Qatar itself,” said Abdulrahman Al Shaibi, speaking at the 2nd Bloomberg Doha Conference.
“Our infrastructure (development) programme will create a wide range of funding and investment opportunities for the private sector, such as project finance, bond and Sukuk issues and public-private partnerships,” he said.
According to Qatar Financial Centre Authority MENA Asset Management Barometer, Qatar's nominal GDP doubled in the last four years, from $98bn in 2009 to $193bn last year, and the country economy is expected to reach a 5.2 percent annual growth rate until 2017.