Jeddah, January 22 , SPA --The General Investment Fund (GIF) is in the process of establishing a company entirely owned by it to supervise and implement a world-class North-South Railway Project.
At the outset of The International Exhibition on "Mining and Mineral Resources Development" now in progress in Jeddah, the Fund's Secretary General Mansour bin Salih Al-Miman, who is also the Chairman of the Board of Directors of The Saudi Arabian Company for Railways said that the Fund has already began the contracting process to set up the technical specifications for the project which, on completion, will extend to a distance of over 2, 400 Kilometers and pass through Six Saudi Cities, namely Al-Haditha; Al-Jouf; Hail; Qassim, Riyadh and Jubail.
"The Project is aimed at providing transportation services for passengers, minerals and other goods as well as helping in a hike in transfer of petroleum, agricultural and industrial products and bring about development and progress of the neighboring areas," he said.
"The project will also lessen the pressure on main roads, national high-way networks and reduce Road accidents," he added.
The participation of the General Investment Fund in the International Exhibition aims at briefing International experts and companies on the significance of such a vital project to serve the Mining Sector in the Kingdom of Saudi Arabia, he pointed out.
© Saudi Press Agency 2008
