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FINANCIAL NEWS
Algeria awards railway contract to FCC, ETRHB
05 May 2010
(MENAFN) The Algerian Transport Ministry said that it has selected FCC, in a joint venture with Algerian company ETRHB Haddad, to build a 185-km long railway line running west of the capital city, Algiers, and connecting the towns of Relizane, Tiaret and Tissemsilt, according to a press statement.
The contract is part of the 2009-2014 economic development program promoted by Algeria’s President, Abdelaziz Bouteflika. The program has a budget of $148 billion, a large part of which is aimed at infrastructure construction.
The project includes the construction of seven passenger stations, five junctions, seven maintenance buildings along the length of the railway, and renovation work on existing stations in Relizane and Tissemsilt. The line will be electrified in the future.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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