Qatari Diar Real Estate Investment Company, an international leader in sustainable development, announced the signing of a joint venture with German-based Deutsche Bahn AG (DB), one of the world's leading passenger and logistics companies, to create the Qatar Railways Development Company (QRDC).
Qatari Diar announces JV with Deutsche Bahn to develop Qatar's railway network.
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The announcement signals that Qatar's much-anticipated state-of-the-art integrated national railway network will formally move ahead into the development stage.
The signing ceremony took place at the Amiri Diwan in Doha, and included high-level ministerial-level delegations from Qatar and Germany. Mr. Ghanim Bin Saad Al-Saad, Managing Director and CEO of Qatari Diar, signed the joint venture with Dr. Ruediger Grube, Chairman and CEO of Deutsche Bahn AG.
Qatar Railways Development Company, a 51/49 joint venture between Qatari Diar, represented by Qatar Railways Company, and DB, will be the sole entity responsible for developing and integrating Qatar's visionary railway network, encompassing a range of transport modes such as metro systems, long distance passenger travel, and freight transport.
QRDC will unify all planned railways in Qatar, including the Doha metro, Lusail light rail, and West Bay people movers. QRDC will also connect Qatar's network to neighboring countries via the Bahrain-Qatar causeway, to create the region's first fully integrated railway system. By combining traditional elements with state-of-the art modern features, QRDC will create the region's most comfortable, reliable, and safe railway system.
QRDC has already completed an initial study, and agreed on the concept design for the integrated railway network. It is now working with all stakeholders within Qatar to coordinate the planning and construction process, and is preparing to identify additional world class partners needed to undertake this massive Qatari development.
Speaking on the announcement, Mr. Al-Saad commented:
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