MANAMA: Plans to build a railroad linking the Arabian Gulf to the Red Sea were revealed at a Saudi Railways Organisation (SRO) investors briefing yesterday. The Landbridge rail project aims to link Saudi Arabia's three largest ports, from Jeddah Islamic Port in the west through Riyadh's Dry Port and reaching Dammam's King Abdul Aziz Port in the east.
The project involves the construction of a new 950km railway line between Riyadh and Jeddah; another 115km line between Jubail and Dammam; the upgrade of existing lines between Riyadh and Dammam; and integrating new lines with Jeddah Islamic Port, King Abdul Aziz Port and Dammam and Riyadh Dry Ports.
Project financing is expected to comprise investor equity and loans from the Saudi Arabian and international bank markets. The land required for the projects will be provided by Saudi Arabia. UBS Investment Bank, Saudi's National Commercial Bank (NCB) and SNCF International of France are providing financial and technical advisory services for the project. |