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Sat 21 Nov 2009 11:10 AM

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Qatar to sign $25bn mega railway deal on Sunday - report

LNG exporter to enter contract for integrated railway project with German logistics giant.

Qatar is set to sign a deal worth a mega $25bn for an integrated railway project with German rail and logistics giant, Deutsche Bahn on Sunday, according to a report.

The Qatar-based The Peninsula daily reported that the signing ceremony will be held at the Qatari Diar headquarters.

The daily cited wire agencies and the newspaper Handelsblatt reporting, saying that the two sides hope to sign a deal for passenger as well as freight rail networks in Qatar.

Handelsblatt, citing official sources, said German industrial group Siemens could be involved in the project for supplying trains and the German building industry could be roped in the construction of the rail networks.

According to the newspaper, the agreement will be concluded to build a rail network in Doha, as well as a high-speed connection to the airport here, and a link to Bahrain.

Deutsche Bahn is Germany’s national railway operator, The Peninsula noted.

The railway project envisages a commuter rail network in Greater Doha as well, and a rail link to Manama as part of the upcoming Doha-Manama causeway, the daily added.

In October, Qatar launched a new $100m company to drive development in the country's railway network.

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.

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