Austria's Strabag pulls out of Riyadh metro project

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Source:  www.reuters.com

Austrian construction firm Strabag has pulled out of a bid to build a new metro system in Riyadh, where it had been leading a consortium of firms, it said on Tuesday.

“Due to the complexity of the project, it did not pass our selection criteria,” a Strabag spokeswoman wrote in an email to Reuters, confirming a report in Austria’s WirtschaftsBlatt.

The development authority has not given a cost for the project but metro systems typically cost billions of euros. More info