Deutsche Bahn has signed a project in Qatar for the construction of a railway

The capital city of Qatar, Doha

Doha - The German railway company Deutsche Bahn has signed a contract in Qatar for the construction of a railway network in the country worth 17 billion euros (about 440.3 billion CZK). The contract is one of the largest foreign agreements for the German industry.
    Construction is expected to last until 2026. However, Qatar would like to complete the majority of the project by 2022, when it could host the World Cup in football. The project also includes trains for passenger and freight transport, as well as a metro system.
    According to the agreement, the Qatari investment company Qatari Diar Real Estate Investment Company and Deutsche Bahn will establish a joint venture aimed at building a national railway network, long-distance connections to neighboring Bahrain, and a metro system in the Qatari capital. Qatar will own a 51 percent stake in the venture called Qatar Railways Development Company, while the German company will hold the remaining 49 percent.
    Qatar is the world's largest exporter of liquefied natural gas and this year the country's gross domestic product is expected to rise by nine percent. The country is investing hundreds of billions of dollars in infrastructure, real estate, and projects to expand economic activities. Gulf countries have also decided to invest more than 100 billion dollars (about 1.7 trillion CZK) in railway projects to alleviate the congestion of the weak public road transport network.
    German media speculate that the German industrial group Siemens will also be involved in the project in Qatar. They are expected to supply trains. Several German construction companies may also participate in the network construction, reported AP and Reuters.