Iraq Plans to Invest to High Speed Railway Projects
The Iraqi Government is planning to invest $10bn to build a high-speed railway line connecting Baghdad to the southern provinces of the country.
Iraq signed an initial agreement with Alstom in May this year to build an overground urban metro line linking Baghdad to Basra at a cost of $1.5bn.
The 280-mile track will allow trains to run at 155mph and is expected to be completed in 2014.
In addition to an overground metro, Iraq is also looking to construct an underground rail transport system.
Plans for the underground rail were unveiled in the 1980s and revived three years ago.
According to Reuters, Baghdad Mayor Saber al-Issawi said that the city has allocated part of the funds in its 2012 budget for the project, which will cost about $3bn to $4bn.