Bahrain: Al Tamimi & Company, the region's largest law firm, has brought together industry experts from across the GCC's rail industry to discuss key regulatory, procurement and financing challenges and opportunities associated with this growing sector.
At a session organised in Bahrain, Al Tamimi's Infrastructure Partners looked at the key issues and risks around the installation of rail infrastructure in the GCC, the regulatory framework, governance and risk management that should be considered when constructing a railway, as well as various options for funding projects, including Public Private Partnerships (PPPs).
The GCC's rail industry is undergoing significant growth, with the construction of the GCC rail network well underway. The network will link all six Gulf States, and many lines are set for completion by 2018. According to Frost & Sullivan, the entire project will see investments worth $200 billion, fuelling intra-regional trade and reducing fuel consumption, and will significantly add to the GCC's existing infrastructure portfolio of world class airports, roads and ports.
Al Tamimi is actively involved in the GCC's rail industry, advising around a number of projects across the region such as Abu Dhabi and Qatar's rail projects. The firm works closely with a range of clients at the forefront of the industry, including domestic and international rail operators, regulatory bodies, infrastructure operators, manufacturers and engineering and technology companies.
Commenting, Foutoun Hajjar, Head of Al Tamimi & Company's Bahrain Office, said;
"The GCC's expanding rail sector brings with it significant growth opportunities, but also a range of regulatory and legal issues. As a firm, we are extremely well placed to advise around these topics, given our extensive experience working with clients across both the infrastructure and transport sectors, as well as our understanding of the region. We opened our office in Bahrain last year, which marked our physical presence across the entire GCC, and we continue to look at ways we can build upon our capabilities here. This workshop is the first in a series of planned workshops and seminars across the region, and it provided a great opportunity for us to meet new and exciting industry players, and share our insight and expertise around this ever-growing sector."