(Reuters) – Saudi Arabia gave an early nod to four consortia on Monday, including ones led by Canada’s Bombardier Inc. (BBDb.TO) and French firm Vinci (SGEF.PA), to build a new metro system in Riyadh to ease congestion on the capital’s gridlocked streets.
The Saudi cabinet approved plans in April to develop a new public transport network in the city within four years that would include both a metro and a new fleet of buses. Consortia for the bus project are being assessed separately.
The Arriyadh Development Authority (ADA) gave no cost for the project but metro systems typically cost of billions of dollars to build.
One consortium is led by France’s largest-listed construction and concession’s firm, Vinci (SGEF.PA) and includes Germany’s Siemens (SIEGn.DE), the state news agency said.
A second is led by Canadian firm Bombardier (BBDb.TO) and includes Turkey’s Yapi Merkezi, Spain’s Obrascon Huarte (OHL.MC), Korea’s GS Engineering and Construction Corp (006360.KS), and Britain’s Serco (SRP.L). More info