08 November, 2018

Foreigners to be allowed to invest in Saudi-Bahrain bridge

Consultancy tenders to be issued next week

Image used for illustrative purpose. EDB BAHRAIN, Muharraq Bridge.

Image used for illustrative purpose. EDB BAHRAIN, Muharraq Bridge.

EDB BAHRAIN/Handout via Thomson Reuters Zawya

08 November 2018
Saudi Arabia and neighboring Bahrain will allow foreigners to invest as partners in a multi-billion-dollar project to build a second causeway linking the two Gulf countries, a Saudi newspaper reported on Thursday.

Tenders for consultancy services for the 25-kilometre King Hamad Bridge that will run parallel to the existing King Fahd Causeway would be issued next week, the Arabic language daily Alriyadh said, quoting Fahd Al-Dawood, Director General of the King Fahd Causeway Authority.

"As we said before, the project will be partly financed by the private sector...investment will also be open to foreign firms and other establishments with relevant experience," he said.

He said feasibility studies for the project would be completed next year.

Dawood said the project, with an estimated cost of around $3 billion, would support both road and railway traffic.

(Writing by Nadim Kawach, Editing by Anoop Menon)


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