Russia eyes on MENA Railway Market

The Russian railway company RZD has declared plans to undertake over $3 billion worth of projects in the MENA region.

The head of the foreign projects branch of the company, Mr. Yuri Nicholsson, was reported by Prime News agency as saying “‘The talks about our participation in several rather interesting projects in Iran are being held. One of the projects stipulates a contract of about $250 million.” This comes a week after the head of Russian Railways Mr. Vladimir Yakunin gave a statement to Russia Today TV indicating that the Russian Railways investments frozen in Libya after the fall of Gaddafi’s regime exceeds 20 billion Rubles  ($625 million). The company has already indicated an interest in bidding for the following projects: $2 billion railway construction in Abu Dhabi $7 billion Kuwait Rapid Transit System Project $250 million Iranian rail project $450 million railway project in NairobiMr. Yuri told Prime news agency that his company managed to finish 30 Kilometres of the railway line before the uprisings that broke out in Libya in February 2011 and he is willing to resume the 2008 agreement by expanding the line to 554 Kilometres. He added that he is heading to Abu Dhabi in the next few days to attend a meeting being held for those who are interested in  sharing in the UAE tender to establish railway lines in UAE as well.