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FINANCIAL NEWS
Salini Impregilo-led group wins USD6b subway contract in Riyadh
30 Jul 2013
(MENAFN) Saudi Arabia has awarded a USD6 billion contract to a consortium led by Salini Impregilo to build part of a subway system in Riyadh, Reuters reported.
Saudi government plans to develop a six-line metro system with driverless trains at an overall cost of USD22.5 billion to ease congestion and pollution in the streets of the capital, Riyadh.
Works on the subway will start next year and are expected to be completed by 2018, Salini Impregilo Chief Financial Officer Massimo Ferrari said.
Salini Impregilo, along with Italian railway technology group Ansaldo STS, Canada’s Bombardier, Indian engineering and construction firm Larsen & Toubro and Saudi group Nesma, will take care of the whole metro project.
Ansaldo will be responsible for technology, Bombardier for the provision of vehicles, while Salini Impregilo, Larsen & Toubro and Nesma will be in charge of civil works.
Another consortium led by the Italian group recently won a contract worth around USD2.25 billion to build a metro line in Doha.
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