DUBAI, Jan 31 (Reuters) - Saudi Arabia’s Public Investment Fund has awarded a 2 billion riyal ($533 million) railway signalling contract to Saudi Binladin Group, in a joint venture with France’s Thales (TCFP.PA), a magazine reported.
The construction conglomerate received a letter of intent from the client in December for signalling and telecoms networks on the North-South Railway project, and is confident of signing the contract within days, unidentified project sources told the London-based MEED magazine.
The contract will involve construction, infrastructure and maintenance work covering 1,600-1,800 kilometres (994-1,118 miles) of the railway, with work expected to begin in July and take up to three years to complete, MEED said.
Germany’s Siemens (SIEGn.DE) was also bidding for the signalling contract, it said.
The North-South line will link the Al-Jalamid phosphate mine and the Al-Zabirah bauxite mine in the north with planned aluminium and fertiliser complexes at Ras al-Zour on the Gulf coast. (Reporting by Jason Benham; Editing by Jan Dahinten)