QDB provides financing for Qatar Rail contractors

Financial solutions for projects to support Qatar Rail mega programme

Qatar Rail CEO Saad bin Ahmed Al Muhannadi.
Qatar Rail CEO Saad bin Ahmed Al Muhannadi.

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Qatar Development Bank (QDB) and Qatar Rail have held a joint workshop on investment and business opportunities worth nearly $40bn in the country’s ambitious new railway system.

These range from $1.2bn for station frameworks, $1.2bn for the supply of liquid concrete, $3.6bn worth of project management services, $3.3bn worth of elevated structures and $2.1bn worth of steel rebar and billet.

To date, five contracts worth $406.5m have been signed for Phase One of the Doha Metro.

QDB CEO Mansoor bin Ibrahim Al Mahmoud said the bank was delighted with its collaboration with Qatar Rail in order to focus on developing the private sector in Qatar.

“We at QDB continuously look for ways to highlight business opportunities for local industry players by providing up-to-date information on various developments.

“Managing one of the largest projects under development in Qatar, Qatar Rail presents a host of prospects to the private sector, which is why we participated in this workshop.

“The workshop clarified the size and scope of the project opportunities, as well as the finer details that investors and businesses need to know in order to take advantage of such opportunities,” explained Al Mahmoud.

QDB will provide financing solutions for investors to financially support various projects related to Qatar Rail that impact the growth and profitability of the Qatari economy.

In terms of sectors, QDB currently has a preference for funding manufacturing, industrial or service projects that will contribute to railway development.

These potential opportunities comprise research and development, manufacturing, operations and maintenance, training centres, design and development.

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