Riyadh may delay $7bn landbridge rail project
Riyadh, July 4, 2009
Riyadh may delay the $7 billion landbridge rail project amid speculation the government will step in to wholly fund the plan instead of opting for an initial 50-year build-operate-transfer deal financed through debt, said a report.
The Saudi Landbridge project will connect the Saudi city of Riyadh with the major port cities of Jeddah and Dammam with the construction of more than 1,000 kilometers of rail track.
Asciano, the ports and rail owner spun-out of Toll Holdings, and its seven Saudi Arabian partners who make up the Tarabot consortium have been selected as the preferred bidder to deliver the project, the report added.