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FINANCIAL NEWS
Saudi Arabia awards $241m contract to Bombardier
01 Jun 2010
(MENAFN) Bombardier Inc.?s rail division said that it has signed a $241 million contract to build, operate, and maintain a monorail system in the capital of Saudi Arabia, AP reported.
The 3.6-kilometer monorail transit system for the King Abdullah Financial District in Riyadh will include six driverless INNOVIA Monorail 300 trains, for a total of twelve cars, the company said.
Bombardier, the world?s biggest train maker, was subcontracted by Saudi Oger Limited, which was awarded the contract by the Rayadah Investment Company, the investment vehicle of the Public Pension Agency of the government of the Kingdom of Saudi Arabia on April 14.
Engineering and design of the trains will take place at Bombardier?s Kingston, Ontario site, and manufacturing of the cars will happen at its Pittsburgh, Pennsylvania site.
Bombardier, along with Saudi Auger, will provide operation and maintenance services for the system for an initial period of 10 years
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