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FINANCIAL NEWS
Saudi resumes Haramain Rail project
25 Feb 2014
(MENAFN) Saudi Arabia has resumed work on Haramain High Speed Rail project from King Abdullah Economic City, Rabigh to holy city of Madinah, according to Arab News.
Saudi Railway Organization (SRO) Chairman Mohammed Khaled Al-Suwaiket said that the second phase has been started by installing train truck.
He added that the 450-kilometer high speed electrified train with a maximum speed of 300 km per hour is a challenging task.
Al-Suwaiket said: “SRO is experiencing some obstacles in the Makkah-Jeddah sector, thus delaying the project in this particular stretch, however from King Abdullah Economic City in Rabigh to Madinah there are no problems and work is progressing satisfactorily.”
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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