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FINANCIAL NEWS
Plans to build a USD9.3b metro system in Jeddah
26 Aug 2012
(MENAFN) Jeddah plans to build a metro system, a project that would cost around USD9.3 billion, Reuters reported, citing a deputy mayor of the city.
Ibrahim Kutubkhana, deputy mayor for projects and construction, said the 108km metro system would have three lines and 46 stations, according to the preliminary studies.
Jeddah, housing over 3 million people, has been struggling with inadequate infrastructure and is undergoing a multi-billion dollar overhaul as it seeks to become a trade and tourist hub.
Saudi Arabia is spending more than USD400 billion to modernize its infrastructure by 2013. It has no metro systems at present but the capital Riyadh and the holy city of Mecca have launched plans to build them.
More News
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
29 Jul 2024
BBK discloses its financial results for the half year ended 30th June 2024
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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