Some 32 international and local firms have submitted bids for the position of financial consultant for a two billion dollar Saudi railway expansion scheme. Potential advisors were invited to submit tender proposals for the contract by November 10.
Bids were received from the US, Europe, Japan and South Africa in addition to several local banks, reported AFP. The selected consultant will prepare the project and subsequently issue a tender for the construction of the railway, to be carried out by the private sector on a 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-
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 )