Land transportation, including railways and roads (toll and non-toll), is another key focus. Currently, by cumulative dollar value, it is the greatest contributor to Asia's project pipeline - largely due to China's Belt and Road Initiative, the drive to expand tourism, and the need to accommodate rapid urbanization and industrialization.
Projected growth in rail infrastructure, averaging 8 percent between 2016 and 2020, is expected to be supported by urban and inter-city projects and the continued expansion of China's highspeed rail network (to 30,000 km by 2020 and 38,000 km by 2025 from 19,000 km at the end of 2015).49 Mass transit projects are key features of the pipeline across major urban centers in Asia as the region grapples with an increasing demand for public transportation. In May 2016, China's Ministry of Transport announced a joint three-year plan (2016-2018) with the National Development and Reform Commission (NDRC) to invest CNY4.7 trillion across 303 transport infrastructure projects.50
Beyond Asia, rail is also experiencing strong growth in the US, where railroads have quietly become the de facto alternative pipeline for the oil and gas industry, with oil by rail increasing from 10,000 carloads in 2008 to 408,000 in 2013 - moving as many as 1.5 million barrels a day.51
Toll roads are expected to continue to be one of the main drivers of growth in the transport infrastructure sector. Spending on roads is forecast to rise as car ownership booms and issues of heavy traffic congestion become more apparent. For example, in Indonesia, over 50 of the 225 National Strategic Projects designated by President Jokowi in 2015 are toll and non-toll roads.52