Transport

Boom time in Bahrain

Gulf Air is looking to rebuild its long-haul network as start-up Bahrain Air quickly expands. Middle Eastern airline Bahrain Air insists it is not aiming to sap Gulf Air's traffic despite preparing to open more routes on which it will compete with the Bahraini flag carrier.

Bahrain Air began operating in February and by the beginning of April will serve nine destinations - Alexandria, Amman, Beirut, Damascus, Dhaka, Doha, Dubai, Kuwait and Mashad. It is competing against Gulf Air on every route except Alexandria and has quickly captured 7% of the Bahraini market, second only to Gulf Air's 60%.

Asciano scores lucrative Saudi rail contract

Asciano has been chosen as preferred bidder for a US$7 billion project in Saudi Arabia, as part of a consortium member of the so-called Tarabot group. The Saudi Landbridge would connect Riyadh, the capital of Saudi Arabia and its largest city, with the major port cities of Jeddah and Damman, Asciano said.

BAC gets go-ahead for BD300m expansion

The Bahrain Airport Company (BAC) has signed an agreement with the Kingdom’s Finance Ministry to facilitate the transfer of land rights to Bahrain International Airport for strategic expansion plans aimed at transforming Bahrain as the regional centre for aviation services.

The agreement grants the company the right to utilise and manage existing airport lands in addition to developing and managing the accompanying services. It also provides licensing to adjacent lands earmarked for the future expansion of the airport.

Emaar and DP World sign deal to develop seaport

Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City (KAEC), and global marine terminal operator DP World signed a memorandum of understanding (MoU) to develop and operate the seaport of KAEC.

One of the six key components of the 168 million square metre KAEC, the seaport will be the largest in the Red Sea and one of the world's top 10 ports with a capacity to handle 20 million TEU (twenty foot equivalent containers).

Oman considering rail network between Sohar and Barka

The Sultanate is considering building a 200-km-long railway network between Sohar and Barka, with the possibility of extending up to Al Duqm in the southeastern part of the country.

“We are planning to build a railway line between Sohar and Barka. This could be extended to Al Duqm,” Ahmed bin Abdulnabi Macki, Minister of National Economy said. He added that the project is at an early stage. “We are looking at all possibilities...,” he added.

Saudi Arabia: National transport strategy

While Saudi Arabia is a lucrative destination for car manufacturers, the ministry of transport is determined to reduce the kingdom's heavy dependency on automobiles, highlighting the development of rail and aviation links as pivotal for the country's long-term transport strategy.

Italian firm docks bid for US$12bn first phase of Grand Basra Port

Iraq's Ministry of Planning has held a seminar with local authorities regarding designs submitted by an Italian company for a US$12 billion contract to build the Grand Basra Port, according to Dr. Imad Hamzah, general director of the ministry's project centre.

Dr. Hamzah said that funding for the project will come from projected exports of crude oil through special terminals at the facility, the value of which he said would reach no less than “US$204m per day”.

Islamic bank launches US$150m aviation fund

Bahrain-based Islamic investment bank United International Bank is to launch road shows in Bahrain, Kuwait, Dubai and Qatar to promote the US$150m Falak Aviation Investment Fund.

Falak, a joint venture between the Bahrain bank with an authorised capital of US$2.5 billion and a paid-up capital of US$291m and Geneva’s Novus Aviation, a global aviation comapny operating in different segments of the commercial jet aircraft business including trading, leasing, financing, management and re-marketing, was set up to invest in a diversified portfolio of aircraft leased to major airlines.