Qualified transaction advisory services consultancies asked to submit bids for 25-km long strategic highway
Bahrain’s King Fahd Causeway Authority (KFCA) has said that it has invited bids from qualified transaction advisory services consultancies for the implementation of the transitional phase of King Hamad Causeway, a 25-km-long strategic highway that will link the Kingdom with Saudi Arabia.
In a statement, KFCA said that the transitional phase is likely to take up to three years, during which a consultant will be tasked with developing a partnership framework between the public and private sectors, conducting a feasibility study and preparing the legal frame, preliminary designs and technical features.
The project will be built with an investment of $4 billion, it added. An earlier report by BNA said that main construction work for the project would be tendered by the end of 2020.
The new causeway is set to run parallel to the existing King Fahad Causeway and will carry passenger trains, freight trains and vehicles, the statement added.
According to the authority, the winning firm will act as the transaction advisor in the form of a consultancy consortium (Financial – Technical – Legal) and will be responsible for providing consultancy services for the planned causeway.
Furthermore, it asserted that the consortium would only be led by a Saudi or Bahrain-registered financial consultant.
The last date for submission of bids is 21 February, 2019.