Saudi Arabian and Bahraini Government officials said a tender for King Hamad Causeway, the planned billion-dollar construction project linking both kingdoms, is expected to be issued this week.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…48 Views | the publication reaches you by | Bahrain News
HE Nabil bin Mohammed Al Amudi, Saudi Arabia’s Minister of Transport, and Bahrain’s Minister of Transportation and Telecommunications, HE Kamal bin Ahmed Mohammed, announced the news on the sidelines of the Future Investment Initiative (FII) 2018, the high-profile investment conference under way in Riyadh, according to Bahrain News Agency (BNA).
will start in mid-2021 and take approximately three years to complete, as Construction Week reported last month. A preliminary economic feasibility study and initial design work for the project has been completed, paving the way for its implementation phase.
Al Amudi highlighted the “vital role” played by the leadership of both countries for initiating both the King Hamad Causeway and “associated railway projects”.
BNA added in its report:
“The project represents a new phase in the longstanding bilateral relationship and demonstrates both countries’ commitment to the GCC strategy to strengthen collaboration through the introduction of new and innovative projects, with examples including the GCC common market and the GCC customs union.”
Expected to support bilateral trade between both countries in goods and services, the causeway will run parallel to King Fahd Causeway and feature a railway line for the planned GCC-wide network, cargo trains, and vehicle lanes.
The news comes amid a flurry of construction announcements made at FII 2018, which is backed by Public Investment Fund, Saudi Arabia’s sovereign wealth fund.
More than 20 memorandums of understanding (MoUs) and agreements worth in excess of $50bn (SAR187.6bn) were signed on Day 1 of conference, some of which were described as ‘megadeals’.
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ELECTIONS 2018 | THE FIRST ROUND | PART 02