Gulf Arabs eye joint company to build US$14bn railway

Gulf Arab states are considering setting up a joint company to build a railway costing more than US$14 billion linking the six oil producers. The 1,940-kilometre railway would connect Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, each of which would contribute a share of the start-up capital, the GCC said in a feasibility study.

DP World and Algeria establish long term joint venture partnership

Global marine terminal operator DP World and the Algerian government signed agreements that see DP World taking over the operation of the ports of Algiers and Djen-Djen. Under the agreements, the joint venture partnership, which is a 50:50 shareholding between DP World and the two Algerian port authorities, will hold a 30 year concession at each of the ports, with DP World operating the two facilities. DP World has committed to an initial investment of US$108 million over three to four years.

Interview: GCC rail network will drive economic and regional cooperation

In an exclusive interview with Noozz, Sir Graham Boyce, former UK Ambassador to Qatar, Kuwait, Egypt and Chair of the Invensys Middle East advisory board, explains why a GCC rail network is crucial for economic growth in the region and can make a customs union a reality.

KBR wins Causeway contract

A leading engineering, construction and services company was awarded the design management contract for Bahrain-Qatar Causeway. US-based KBR said it was awarded a contract by the Qatar-Bahrain Causeway Foundation (QBC Foundation) to provide design management, project management, and construction management services for the causeway. The QBC Foundation was created in 2006 for developing and managing the causeway project.

Regional private jet industry set to grow to US$800m by 2012

The regional private jet industry is expected to grow from an annual US$500 million to US$800 million by 2012, according to top industry expert. Sultan Bin Saeed Al Mansouri, Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), said the region's fleet strength is expected to triple by 2025, with low-cost airlines and super-jumbos contributing to the growth. ""The sustained growth of the aviation sector will also bring in economies of scale, leading to cost reductions, which in turn will assimilate the market and spearhead more traffic,"" he said.

Air Arabia to buy 10 more Airbus A320 jetliners

The Middle East's biggest budget airline says it will buy 10 more Airbus A320 planes as it prepares to open a new hub in Morocco. Air Arabia's move is part of a broader push by Gulf Arab carriers to expand their fleets and route networks at a time when airlines elsewhere in the world are contracting or collapsing. The airline's latest order follows a deal for 34 A320s it made late last year.

Prince Sultan signs airport deals worth SR579m

Crown Prince Sultan, Deputy Prime Minister and Minister of Defence and Aviation, signed three contracts valued at SR579 million with two major companies to operate and develop the Kingdom’s three international airports. The two companies are: Fraport AG of Germany and Singapore’s Changi Airports International, Pte Ltd. “Fraport will operate the Jeddah-based King Abdul Aziz International Airport (KAIA) and the Riyadh-based King Khalid International Airport while the Dhahran-based King Fahd Airport (KFA) will be operated by Changi,” said Abdullah M. Al-Ruhaimy, president of the General Authority of Civil Aviation (GACA). The contract is for six years during which the companies will invest their technical know-how to develop the existing facilities and qualities of services.

Qatar and Iberia express interest in acquiring Greek state airline

Qatar Airways, Iberia and Chrysler Aviation are among 13 companies which have expressed interest in the sale of state-owned Olympic Airlines, Greece's transport minister said. ""We were presented with 13 interested companies for flight operations, 15 have expressed interest for the ground handling and 10 for the technical maintenance part,"" Transport Minister Kostas Hatzidakis said in a radio interview. Greece's conservative government launched a tender in September to split the loss-making airline into three parts and to sell each of them off. Hatzidakis said the government hoped to complete the sale by the start of 2009.

Qatar-Bahrain causeway to have rail line

The 45-kilometre Friendship Causeway between Qatar and Bahrain will now include a rail line for freight and passenger services. The line will be part of Qatar's national rail system which is currently being developed in consultation with Germany's Deutsche Bahn. The crossing was originally designed to accommodate a dual carriageway. The construction contract for the causeway was awarded in May to a consortium led by Qatari Diar and France's Vinci Construction Grand Projets. The group also includes Germany's Hochtief, Athens-based Consolidated Contractors Company, Belgium's Dredging International and the local Middle East Dredging Company.