Saudi Arabia’s Public Investment Fund signs three rail contracts

Rail contracts total US$613 million

Three contracts totaling $613 million were signed in Saudi Arabia on Saturday January 7, for the construction of maintenance service buildings and stations along the country’s longest stretch of railway.

According to reports from the Saudi Press Agency, the state funded 2700km North/South track will link Riyadh to the Jordanian border and pass through Jubail Industrial city, Dammam Port and Rass Azzour. Upon completion, it will be the country’s longest railway.

“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 largest of the contracts was signed with Al Rashid Trading and Contracting Co for around $200m. Other contracts were signed with Yabi Markazi Company and Sulaiman Al Qudaibi and Sons.

Eventually the network will form part of the GCC wide track, linking to individual projects in the UAE and Qatar in particular.

The North/South stretch of track is due for completion in 2018. The Kingdom’s wider rail project incorporates the Saudi Landbridge and Western Railway, linking Jeddah to Mecca and Medina to Yanbu.





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