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FINANCIAL NEWS
Jeddah Metro project to cost USD12b
08 Oct 2014
(MENAFN) The new USD12bn Jeddah Metro in Saudi Arabia is reportedly going to be designed by British architecture firm Foster + Partners, with firm expected to earn up USD100 million in fees for providing designs for the project’s 46 stations, Arabian Business reported.
The project is being developed by Jeddah Metro Co: a joint venture between the Municipality and Jeddah Urban Regeneration Co, and it is set to include metro, tram and commuter rail elements with a combined length of 293km, a 750km-long bus system as well as more than 3.000 stops, ferries and taxis.
Earlier this year, French consultancy firm Systra won USD73.6 million contract to provide preliminary engineering designs for the project, while Aecom won a contract to do preliminary planning and design work.
Meanwhile, Jeddah Metro said that the project will not be ready for public use until 2022, two years after construction has finished due to the project going through a series of safety tests before it goes into service.
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