Saudi Arabia signs $613M rail contracts

Saudi Arabia signs $613M rail contracts

Saudi Arabia signed three contracts worth 2.3 billion riyals ($613 million) on Saturday for the construction of maintenance service buildings and five stations to support its longest railway, the North/South railway, state news agency SPA said.

January 8, 2012 10:45 by Reuters

Saudi Arabia, which is spending billions to boost its infrastructure, is building its longest railway, over 2,700 kilometers, which will link the capital Riyadh with the country’s northern border near Jordan.

“The finance minister and head of the Public Investment Fund signed three contracts for the North/South railway, worth 2.3 billion riyals,” SPA said in a statement.

The project is financed by the state-run Public Investment Fund (PIF).

The largest contract, which is for the construction of five railway stations, has been signed with Saudi firm, Al Rashid Trading and Contracting Co. for 1.57 billion riyals.

The railway will also link Saudi Arabia’s industrial city of Jubail and Dammam port to a network that connects to mining centers through Ras Azzour. (Reporting by Asma Alsharif; editing by Ron Askew)