The 100 billion Saudi riyals ($26.61 billion) Saudi railway project linking the eastern and western parts of the Kingdom, also known as the land bridge project, is currently in the financing phase, the Arabic-language financial website reported. Argaam, quoting Transport and Logistics Minister Saleh Al-Jasser.
The project is designed in cooperation with a consortium led by a Chinese company, he said.
Separately, the minister said the land bridge project is one of the most important projects in the Kingdom’s transport strategy, Saudi Gazette reported, citing Al Arabiya TV.
In September the minister said that the land bridge The project was making increased progress and its implementation will begin in the coming period.
In October 2018, the local English-language newspaper Saudi Gazette reported that the Public Transport Authority (PTA) had signed a memorandum of understanding with the China Civil Engineering Construction Corporation (CCECC) for the land bridge project on the sidelines of the Future Investment Initiative (FII) in the Saudi capital Riyadh. The project, aiming to connect the ports of the Red Sea and the Persian Gulf via the railways between Dammam and Riyadh, was estimated at 10.6 billion dollars.
(Writing by D Madhura; Editing by Anoop Menon)