GCC to invest $121.3bn in transport infrastructure
Timetric report reveals countries investing in road and rail projects
The GCC is to invest $121.3bn in improving its land transportation infrastructure.
Major road and bridge projects are already underway, or in the planning phase, in a number of the Gulf countries, with the UAE investing heavily in multimodal transportation.
A recent report from Timetric states that a number of the GCC countries are heavily investing in to their road and rail infrastructure. The largest of the regional investment comes from Saudi Arabia, where in 2013 the government announced a plan to invest $77bn for improvements to roads, bridges and railways.
Road infrastructure was the second-largest category within the Kuwaiti infrastructure construction market, with a 32.2% share of the value in 2012. The total number of vehicles on the road increased from 1mn in 2012 to 1.7mn in 2013, indicating the need for more roads, and the category is expected to record a forecast-period CAGR of 4.8% to value $2.1bn in 2017.
In Qatar, road infrastructure was the second-largest category in the infrastructure construction market during the review period and valued $1bn in 2012. It is expected to register a forecast-period CAGR of 2.1% to value $1.1bn in 2017.
“An increase in traffic is generally followed by an increase in accident rates. With more vehicles on the roads, it is becoming increasingly difficult to decrease fatality statistics and to keep the main regional cities moving freely. This is one of the biggest challenges faced by Middle Eastern governance.” explains Richard Pavitt, exhibition director, Gulf Traffic.
The Road and Transport Authority in the United Arab Emirates have recently announced 35 mega projects to be rolled out by 2020, including the extension of the Red Line of the Dubai Metro, upgrading roads and junctions surrounding and leading to the Expo site, and sourcing 39 additional trains up to 2020 in order to improve passenger services.
In light of this, the 2014 Gulf Traffic Exhibition & Conference, which will take place 8-10 December, 2014, at the Dubai International Exhibition Centre, will provide a platform to focus on multimodality within cities, including interconnectivity, mass transit systems integrating with traditional highways, advanced technologies and ways to keep the roads safe.
“This is probably the biggest visible trend at the moment, especially in the UAE, and we have tried to tailor both the speaker line up and content that will be delivered during the conference.” confirms Pavitt.
The conference speaker line-up for this year includes some important industry figures from emerging market countries such as Alan Bristow, director of road space management – surface transport, Transport for London (TfL); Eng Meitha Mohammed Bin Adai, CEO of Traffic & Roads Agency, Road and Transport Authority, UAE; Pieter Venter, CEO of the Global Road Safety Partnership; Sing Mong Kee, President of ITS Singapore, Land and Transport Authority, Singapore – among others.
“With the Dubai Metro recently celebrating five years in operation, numerous bus routes in action all over the country, a new tram service almost complete, innovative water taxi services, more metro lines planned and the pan-GCC Railway, public transportation has taken huge steps forward and this looks set to continue. Expo 2020 in Dubai, the FIFA 2022 World Cup in Qatar and the organic growth in the Middle East, has meant a continued reliance on cheap mass-transit systems.” said Pavitt.
The 2014 Gulf Traffic Exhibition & Conference will bring together leaders in the road, rail, public transport and parking industries from across the globe. The exhibition will feature a host of international suppliers showcasing new trends and technologies, offering industry insight and innovative solutions.