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FINANCIAL NEWS
Saudi Railways signs USD104.37m contract
09 Aug 2014
(MENAFN) Saudi Railways Organization (SRO) has signed a contract of USD 104.37 million with a local company, Arab News reported.
The contract was signed to build the 214km first phase of doubling the cargo mainline from Dammam to Riyadh passing by Abqaiq, Hasa and Al-Kharj.
The 24-month contract aims to enhance SRO”s operational capacity to meet the growing private sector demand for transportation by train.
“The project will enable SRO to achieve significant operational benefits particularly reducing the journey time of the freight trains,” SRO president said.
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