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KEC unit in deal to transfer land for Haramain rail project

RIYADH, January 3, 2019

Al Gharra International for Real Estate Development Company, an affiliate of Saudi's Knowledge Economic City (KEC) has signed an agreement with Saudi Railways Organization (SRO) for the transfer of land towards construction of a Haramain Rail station in Madinah.

The 450-km network connects Makkah and Madinah with in between stations at Jeddah, King Abdul Aziz International Airport, and King Abdullah Economic City.
The Haraman Rail, the region’s first high-speed electric train, can carry 60 million passengers a year with a fleet of 35 trains containing 417 seats each.
As per the deal, KEC and Al Gharra will hand over the 103,412 sq m land plot located on King Abdul Aziz Road to state-owned SRO, said the company in a statement to the Saudi bourse Tadawul.

KEC will also set up various projects on the two land plots surrounding the rail station to provide services to train passengers and pilgrims, it added.-TradeArabia News Service

Tags: KEC | land | Saudi Railways Organization | Haramain rail |

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