Saudi infrastructure freeze may be easing as Jeddah projects announced

Saudi Arabian authorities have announced three public transport projects in the port city of Jeddah, a sign that a freeze on new infrastructure work in the kingdom may be easing as the government slows its austerity drive.

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DUBAI, Jan 23 (Reuters) – Saudi Arabian authorities have announced three public transport projects in the port city of Jeddah, a sign that a freeze on new infrastructure work in the kingdom may be easing as the government slows its austerity drive.

The projects are a tram line along Jeddah’s northern corniche, a marine taxi service and a bridge linking two of the city’s neighbourhoods, the Saudi Gazette reported on Monday, quoting an official statement.

The projects are open to participation of the private sector, the statement said, reflecting a new effort by the government to save money by persuading private investors to share the financial burden of building infrastructure.

The statement did not give a value for the projects or reveal other details.

Few new projects were announced in the kingdom last year as the government, its finances strained by low oil prices, clamped down on spending. More info

Construction labourers work at the site of the development project of King Abdullah Road in Riyadh February 5, 2013. REUTERS/Fahad Shadeed

REUTERS/Fahad Shadeed

Source:  reuters

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