Saudi's north-south rail project to cost $5.3bn
2012-03-17 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Secretary-General of Public Investments Fund (PIF) and Chairman of Saudi Railways Company (SAR) Mansour Al-Maiman has said that the north-south railway project is expected to cost SR20bn, Arab News has reported. The railway project, which is set to connect the North and South of Saudi Arabia, will depend mainly on goods transportation as a major source of its revenue rather than passengers, Al-Maiman added. Speaking after signing a contract with Spain's CAF company worth more than SR553m, Al-Maiman has added he project will be financed by the government either through issuance of sukuks, direct government funding from state budget or PIF. Under the terms of agreement, CAF will manufacture five passenger train sets for SAR and deliver them within two years.  

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