EBRD invests $713m in 15 projects in Egypt

11/10/2014 (Egypt News - Egypt): Egypt Director at the European Bank for Reconstruction and Development (EBRD) Philip ter Woort gave an interview with Daily News Egypt to discuss investment projects, the current economic situation in Egypt, and discuss future financing plans.What sectors does the EBRD focus on in Egypt, and how many projects are currently financed by the bank?The bank has been investing in Egypt since the end of 2012, and I am very pleased to say that. Despite the challenges that Egypt faced last year, the bank had a successful performance during the two years, and to date, EBRD has committed to 15 projects, with total investments of approximately €565m [$713m] through these projects.The bank has been able to invest in a wider range of sectors in the country, as we have concluded projects in the agribusiness sector, transport, property, banking


Network Rail in pole position for £50m-plus Saudi Arabia contract

11/10/2014 (The Telegraph - UK): Network Rail is the front runner for a major contract to advise Saudi Arabia on how to improve its railways, just months after being given a record £53m fine in the UK for poor performance.The disclosure of the Saudi contract, worth more than £50m, prompted calls from passenger groups for Network Rail, which is in charge of Britain’s railway tracks and stations, to ensure that its main role of improving services in the UK would not be affected.David Sidebottom, of Passenger Focus, said: “It’s important that Network Rail reassures passengers that its focus on making Britain’s railways better will not be diminished in anyway.”Network Rail, which was last month reclassified as a public body to meet obscure European accounting rules, was named the preferred bidder for a significant consultancy contract in Saudi Arabia, which is spending $400bn on rail, construction and health care projects, The Sunday Telegraph has learnt.


China Civil builds on its Saudi success

01/10/2014 (Arab News - KSA): China Civil, a top engineering construction corporation from China, is currently involved in a number of major projects in Saudi Arabia, including the Haramain High Speed Railway Phase 1 Package 1 project (HHR P1P1 for short) and construction of a tunnel at the intersection of King Abdulaziz Road with Palestine Street and Al-Hamra Street in Jeddah (KAAT).Another major project it is handling is the civil and track works contract CTW400 — Az Zabirah Junction to King Khaled International Airport (from Ghassim to Riyadh).This was disclosed to Arab News by Wen Wu, general manager of the company in Riyadh, on the occasion of the 65th anniversary of the founding of the People’s Republic of China.His company is also constructing a bridge at the intersection of Arafat Road with Al-Kharj Road in Riyadh (BIAK for short); besides three bridges (Abu Bakar Intersection, Hamza Intersection and Prince Muteb Intersection) in Najran.


Etihad Rail inks deal to protect key installations

18/10/2014 (Arab News - KSA): Etihad Rail, the developer and operator of the UAE’s national railway, has signed a major memorandum of understanding (MoU) with the UAE’s Armed Forces.Both parties will work together through close coordination and exchange of information to secure the vital protection of the national rail network.Under the agreement, the UAE Armed Forces will secure protection for Etihad Rail’s facilities and vital installations that fall within the scope of the MoU, including stations, terminals, yards and depots.Etihad Rail will provide a link for five key military logistics centers operated by the UAE Armed Forces and the Ministry of Defense.The MoU was signed by Acting CEO Faris Saif Al-Mazrouei and Major General Staff Pilot Ishaq Al-Blooshi from the UAE Armed Forces.


Turkey to complete new 79-km long railway soon

16/10/2014 (Hurriyet - Turkey): A new $700 million 79 km-long railway route is set to be completed in Turkey in 2015 as a part of the Baku-Tbilisi-Kars (BTK) railway project, becoming a vital chain of the modern Silk Road, Transport Minister Lütfi Elvan said at a conference on the BTK project on Oct. 16. “We are planning to complete the 79 km-long part of the project within the borders of Turkey by the end of next year, for a total investment of $700 million,” Elvan said, stressing that the BTH project would play a great role in connecting the neighboring countries’ infrastructures on the path to establishing “a new Silk Road.” The Baku-Tbilisi-Kars railway is being built in accordance with an inter-governmental agreement reached by Azerbaijan, Georgia and Turkey. The railway is expected to increase the flow of containers and other types of cargo from Asia to Europe. Its throughput capacity will peak at 17 million tons of cargo per year, the partnering countries announced in 2013. Initially, the capacity will be 6.5 million tons of consignments and one million passengers.


Government gives go-ahead to 4 strategic rail lines along China border

22/10/2014 (Indian Express - India): The government has kick-started the process of building four top-priority strategic railway lines along the China border — a project that had been stuck in deliberations for years for want of a political decision at the highest level. Last week, at a high-level meeting with officials from the Planning Commission, Defence, Railways and Finance ministries, the PMO finally asked the Railways to carry out detailed engineering survey of the 1,000-odd kilometres of lines identified by the Defence Ministry as strategically crucial. They are in Arunachal Pradesh, Assam, Himachal Pradesh, and J&K. - See more at: http://indianexpress.com/article/india/india-others/government-gives-go-ahead-to-4-strategic-rail-lines-along-china-border


N. Korea modernizing railway lines with Russia's support

22/10/2014 (Yonhapnews - Korea): SEOUL, Oct. 22 (Yonhap) -- North Korea has begun a joint venture with Russia to renovate its key railway network, according to Pyongyang's media, amid growing signs of closer ties between the former communist allies.The North held a ground-breaking ceremony Tuesday for re-building a railroad linking the logistical hub of Nampho and several areas rich in coal, cement and other natural resources, the Korean Central News Agency (KCNA) reported Wednesday.The project is designed to modernize the aged Jaedong-Kangdong-Nampho railway, a key industrial transportation route running through the capital, Pyongyang. Nampho is the North's largest port city along the west and Jaedong is home to a number of coal mines.Participants in the event, held at the East Pyongyang Railway Station, included the North's external economy minister Ri Ryong-nam and Russia's minister of Far East development Alexander Galushka. They chair the Inter-Governmental Committee for Cooperation in Trade, Economy, Science and Technology between the sides...



Russia, China Move Ahead on $25 Billion High-Speed Railroad Project

22/10/2014 (The Moscow Times - Russia): A memorandum signed Monday paved the way toward long-anticipated Chinese participation in the construction of Russia's first high-speed railway, which will stretch from Moscow 800 kilometers east to KazanState-run railway monopoly Russian Railways told news agency RIA Novosti the grand aim of the agreement is to develop plans for a Eurasian high-speed transport corridor from Moscow to Beijing that would include the segment between Moscow and Kazan.The agreement was signed by Russian Railways president Vladimir Yakunin, Russia's Transportation Minister Maxim Sokolov, the chairman of China's National Development and Reform Commission, Xu Shaoshi, and Chinese Railway Minister Sheng Guangzu...


Kenya holds workshop on high-speed railway project

02/10/2014 (Global Post - USA): NAIROBI, Oct. 2 (Xinhua) -- A workshop on the 609-kilometer Standard Gauge Railway (SGR) from the coastal town of Mombasa to Nairobi was held here on Thursday.The Principal Secretary in the Ministry of Transport and Infrastructure Nduva Muli said the resettlement plan for those on the railway path will be concluded in two weeks time."The government has already paid the contractor 67 million U.S. dollars," Muli said.The move comes after China Road and Bridge Corporation announced it has recruited some 2,464 Kenyans for the initial work of the construction expected to make the movement of goods easier across the country.


China key to cash for $2bn rail project

22/10/2014 (The Australian - Australia): CHINESE investors are facing an overt government campaign to plug a shortfall in taxpayer funds for one of Australia’s most exclusive pieces of city real estate.The Napthine government is courting Chinese investment for Federation Square East in the heart of Melbourne, which is a 3.3-hectare site over rail yards and is considered the most important CBD development in a generation.The government has produced China-specific literature to encourage expressions of interest for the $2 billion project and Major Projects Minister David Hodgett has directly lobbied Chin­ese companies to pour money into the site.It comes amid uncertainty in the housing market — particularly in parts of Melbourne and Sydney — about the impact of rising prices fuelled by foreign investment.However, the peak nation­al property associations backed the need for sustainable Chinese investment to fill supply shortages.