New project will be constructed based on a public-private partnership model and will include a parallel rail link
The King Hamad Causeway Authority has announced that it has signed a consultancy agreement worth around $8.9 million with a consortium comprising of KPMG, AECOM, and CMS that will work on developing the financial model, the required engineering specification and design.
The new project will be constructed based on a public-private partnership model and will include a parallel rail link. The total project value is estimated at $3.5 billion, while the consortium will also help in assessment and selecting the main developers.
Commenting on the agreement, Eng. Kamal bin Ahmed Mohammed, minister of Transportation and Telecommunications, said: “We are pleased to announce the appointment of the main consultancy consortium to start developing all necessary requirements and the financial model required for the construction of the new King Hamad causeway.”
He added that this is a strategic project, which will further enhance their logistics sector and the links between the two countries allowing them to realise common aspirations and reinforce the strong bilateral relations they have with the Kingdom of Saudi Arabia.
The agreement was signed during the Future Investment Forum (FII) which was held in Riyadh and attended by Ahmed bin Abdulaziz Al-Haqbani, chairman of King Hamad Causeway Authority and Eng. Emad Al-Muhaisen, executive director of King Hamad Causeway Authority as well as Eng. Mohammed.