Qatar Development Bank (QDB) and Qatar Rail organized a workshop on investment and business opportunities worth nearly $40bn in the country's ambitious new railway system.
International consulting firm McKinsey & Co elaborated on the details of new and existing business opportunities, many of them "quick wins", in the areas of infrastructure provision, operations, rolling stock provision, transport operations, maintenance and management services. They also cited the revenue potential of each from initial sales to Qatar Rail right up to 2032. Qatar Rail offers 104 business opportunities for the country's private sector. The investment opportunities will result in an annual 0.3% increase in Qatar's GDP and a corresponding 0.7% rise in the GDP of the private sector.
"This is the fifth meeting for Qatar Rail with the private sector, which we endeavor to reflect Qatar National Vision 2030 of HH the Emir, Sheikh Hamad bin Khalifa al-Thani, and accomplish an influential partnership between the private and public sectors," said Qatar Rail CEO Saad bin Ahmed al-Muhannadi.
He explained that Qatar Rail's policy is to conduct workshops to introduce Qatari and foreign investors to the projects before granting any big projects in the bids. Such a policy has been successful and there are Qatari companies qualified for civil works in most ventures.
"The workshop focused on logistical services and materials for the first phase of Doha Metro and the requirements of the Qatar Rail project, so that Qatari companies can plan for investment opportunities and contribute to this vital project. Using the preliminary information provided by the workshop, Qatari companies can envision their investment opportunities and participation in the project. Doha Metro will offer investment opportunities to the private sector in the fields of construction, operation and maintenance," said al-Muhannadi.
QDB CEO Mansoor bin Ibrahim al-Mahmoud said QDB was delighted with the collaboration with Qatar Railways Development Company in order to focus on developing the private sector in Qatar. "We at QDB continuously look for ways to highlight business opportunities for local industry players by providing up-to-date information on various developments. Managing one of the largest projects under development in Qatar, Qatar Rail presents a host of prospects to the private sector, which is why we are holding this workshop. The workshop will clarify the size and scope of the project opportunities as well as the finer details that investors and businesses need to know in order to take advantage of such opportunities," he explained.
QDB executive director (strategy & business development) Abdulaziz al-Khalifa gave a presentation on Qatar Rail's high level of impact. The revenue figures for some of the aspects exceeded $1bn, such as provision of frameworks for stations ($1.2bn), supply of liquid concrete ($1.1bn), project management services ($3.6bn), provision of elevated structures ($3.3bn) and the supply of steel rebars and billets ($2.1bn).
QDB will provide financing solutions for investors to financially support various projects related to Qatar Rail that impact the growth and profitability of the Qatari economy. In terms of sectors, QDB currently has a preference for funding manufacturing, industrial or service projects that will contribute to railway development. These potential opportunities comprise research and development, manufacturing, operations and maintenance, training centers, design and development.
Till date, Qatar Rail has signed five contracts totaling QR1.48bn to initiate work on the first phase of the Metro.
The workshop in Doha was also addressed by Hamad bin Ahmed al-Kuwari, deputy chairman of the Qatar Chamber of Commerce.