[November 22, 2009] Qatar, Deutsche Bahn agree upon joint railways venture Tweet DOHA, Nov 22, 2009 (Xinhua via COMTEX) -- Qatar Railways Company and Deutsche Bahn International signed Sunday in Doha a 26-billion-U.S. dollar deal to set up a railways joint venture, Qatar News Agency (QNA) reported. The two sides announced during a press conference the inauguration of Qatar Railways Development Company, a joint venture of 51 percent share for the state-run Diar Investment Company, the shareholder of Qatar Railways Company, and 49 percent for Deutsche Bahn International. During the ceremony, Managing Director of Diar Investment Company Ghanim bin Saad Al-Saad said Diar has sought to develop and secure a safe and integrated railways system through partnership with Deutsche Bahn International. He pointed out that the joint venture will help developing his country's planned railway network which encompasses a range of transport modes such as metro systems, long distance passenger travel and freight transport. The company will unify all planned railways in Qatar including the Doha metro, Lusial light rail and West Bay people movers, Al- Saad added. The joint venture will also help oil-rich Qatar to connect its railways network to neighboring countries via the Bahrain-Qatar causeway. The Qatari railways system will also include an east coast rail link, a passenger and freight railway linking Ras Laffan and Mesaieed areas via Doha. [ Back To TMCnet.com's Homepage ]