Saudi Railway to hire consultants for $2 billion network expansion
The state-owned Saudi Arabian Railways Organization (SARO) is seeking consultation on the restructuring and financing of a two billion dollar railway expansion scheme, which will be carried out by the private sector on the build, operate and transfer (BOT) basis.
The extended railway system will link the kingdom’s major cities—Riyadh, Jeddah, Makkah, Madinah and Yanbu. Another connection will be laid between Dammam and Jubail. The national rail system will be expanded by a total of 3,000-kilometer lines.
Local commercial banks were invited to submit tender proposals for the contract by November 10, 2002, in conjunction with engineering consultancy firms, reported Arab News.
Saudi Arabia is the only country in the Gulf Cooperation Council (GCC) that operates a railway system. It is however currently limited to only one route liking Riyadh to Dammam. The Kingdom’s railways are managed by SARO.
Established in 1966 as an independent public utility, the organization operates a 1,391-kilometer railroad, three main passenger stations, the dry port in Riyadh and a fleet of locomotives and cars. — (menareport.com)
© 2002 Mena Report (www.menareport.com)