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FINANCIAL NEWS
Saudi USD184m rail project won by UK syndicate
23 Feb 2015
(MENAFN) Syndicate of Serco Group signed a contract with Saudi Railway Company (SAR) to provide management and technical support on Saudi’s North South Railway (NSR) project, Arabian Business reported.
The contract, which is the first of its kind for Serco in Saudi, is valued at USD184.4 million for The North South Railway, which is one of the largest rail projects currently under development in the world.
The deal entails that Serco is to function as a main contractor and will provide the technical support for passenger operations. Other syndicate members are set to provide other services.
“SAR’s vision is to implement world-class railway practices and deliver the highest standard of technical, commercial and operational service excellence to all SAR customers,” CEO of the SAR said in a statement.
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