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The $23 billion Riyadh Metro will be completed on schedule in 2019 and its budget is ring-fenced, a senior official said on Wednesday, quashing speculation the project could be scaled back or delayed following a slump in Saudi Arabia's oil revenues.
The Saudi Electricity Company (SEC) will provide 700 megawatts (MW) of electricity for the Riyadh Metro and Haramain Railway projects.
Prince Turki bin Abdullah bin Abdul Aziz disclosed here Thursday that 200 Saudi engineers will be working side by side with engineers from international firms in the multibillion riyal King Abdul Aziz Public Transportation (KAPT) project which is already in the first stages of implementation.
Four international consortia have prequalified for a contract to build a metro network in Riyadh, the High Commission for the Development of Arriyadh announced on August 1. Bids were submitted by a total of 38 consortia.