Monday, March 29, 2010

Deutsche Bahn wins UAE rail contract

Deutsche Bahn has won a contract to build a rail network in the United Arab Emirates, signing a memorandum of understanding on Sunday in Abu Dhabi.

Financial details were not released, but the construction of the regional transport lines, a metro, tram services as well as a long-distance link between Abu Dhabi and the southern emirates is expected to cost double digit billions of euros.

Deutsche Bahn signed a €17 billion deal to build a high-speed railway network and underground metro systems in Qatar and Bahrain just four months ago and then said it was planning to bid for more Gulf business.

The latest contract puts the Bahn in partnership with the Masaood Group, one of the biggest industrial companies in the region.

Source: http://www.thelocal.de/money/20100328-26177.html

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