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FINANCIAL NEWS
Saudi high-speed rail to be launched by 2018
25 Nov 2016
(MENAFN) Saudi’s railway linking Makkah and Madinah, which will benefit 166.000 passengers per day, will open in March 2018.Furthermore, the rail network linking the holiest cities was organized to open by the year end but the date for its finishing was moved to the end of 2017.In addition, the kingdom had awarded the deal worth USD7.1bn in 2011 to the consortium of 12 Spanish firms and two Saudi firms.Saudi authorities have confirmed to pay an additional USD160mn to compensate for extra costs of the project due to the delay.
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