Saturday 15 June 2024

Bahrain seeks consultancy bids for $4bn Saudi causeway

MANAMA, November 13, 2018

Bahrain's King Fahd Causeway Authority (KFCA) said it has invited bids from qualified transaction advisory services consultancies for implementing the transitional phase of King Hamad Causeway, a 25-km-long strategic artery linking the kingdom with Saudi Arabia to be built at an investment of $4 billion.

The transitional phase is likely to take up to three years, during which a consultant will be charged with developing a partnership framework between the public and private sectors, conducting a financial feasibility study and preparing the legal framework, preliminary designs and technical features, said a statement from KFCA.

Earlier, the BNA had reported that the main construction work would be tendered by the end of 2020.

The new causeway, which is set to run parallel to the existing King Fahad Causeway, will carry passenger trains, freight trains and vehicles, it stated.

According to KFCA, the winning firm will act as the transaction advisor in the form of a consultancy consortium (Financial – Technical – Legal) and will be responsible for providing consultancy services for the planned causeway.

The consortium would be led by only a Saudi Arabia or Bahrain- registered financial consultant, it stated. The last date for submission of the bids is February 21, 2019.-TradeArabia News Service

Tags: Bahrain | Saudi | King Hamad Causeway | Consultancy bids |

More Construction & Real Estate Stories

calendarCalendar of Events