The United Arab Emirates is no stranger to innovation–especially infrastructure-related–and the country has just announced that a 1,500 kilometer railway will be built, connecting ports in Abu Dhabi and Dubai. The project will cost an estimated $11 billion–pretty high, given that Dubai just went bankrupt not too long ago.
It seems that in hard times huge infrastructure investments are hoped to pay off and add a little juice to local economies. After all, Amtrak also announced yesterday that they’re planning a $117 billion dollar high speed rail line, connecting major Northeastern hubs, such as New York, Philadelphia, and Boston.
As for funding, the UAE is considering a public-private partnership model and the central actor, the Union Railway, is consulting UBS for financial guidance.
“Linking Jebel Ali to Khalifa Port is very important, not only for the project but also for the U.A.E. logistics as a whole,” Union Railway CEO Richard Bowker said.
[Image via Nepenthes]