Haramain High-Speed Railway Moves Ahead

3 February 2010 (Last Updated February 3rd, 2010 18:30)

The Haramain high-speed railway project in Saudi Arabia has moved ahead following the Cabinet's instruction to the state-owned Public Investment Fund (PIF). The Cabinet has asked the PIF to sign and finance service and business contracts for the project by providing interest-free loans f

The Haramain high-speed railway project in Saudi Arabia has moved ahead following the Cabinet's instruction to the state-owned Public Investment Fund (PIF).

The Cabinet has asked the PIF to sign and finance service and business contracts for the project by providing interest-free loans from its revenues.

Saudi Railway Organization president Abdul Aziz Al-Hoqail said the company would receive offers for the project's second phase by the end of February, reports arabnews.com.

The second phase involves building railway lines, signalling and communication systems, importing train cars and equipment, and operation and maintenance.

Dar Al-Handasa Consultants has been contracted for SR360m ($96m) to supervise the project while Scott Wilson has signed a SR89.8m ($24m) contract to manage the railway.

The 450km railway line will link the holy cities of Makkah and Madinah with Jeddah and facilitate pilgrims' transportation.