Spanish consortium signs $۷bn Haramain High - Speed Railway Project agreement

TIN news:  A Spanish consortium building a high-speed rail link between Mecca and Medina has reached an agreement with Saudi Arabia to finalise the works following years of delays.
Saudi Arabia originally awarded the (€6.7bn) $7.1bn contract to the consortium in 2011.
The latest agreement is a breakthrough for the Haramain High-Speed Railway project, resolves the differences that emerged between the two sides during the process and clears the way for completion of works.
Spain Minister Inigo de la Serna said: "This is an important step to complete the AVE desert, a big engineering project that is also the Brand Spain flag and demonstrates the leadership of our companies worldwide."

"The project is believed to be unique in its technical complexity and socioeconomic scope."

The consortium comprises 14 companies, with two Saudis in the Saudi Al Shoula and Al Rosan, and 12 Spanish, which are Adif, Ineco, Renfe, Cobra, Copasa, Consultrans, Imathia, Inabensa Indra, OHL, Siemens and Talgo.
The Haramain High-Speed Railway includes design and construction of the road and systems along more than 450km, the supply of 35 trains, as well as operation and maintenance of all elements of the line for 12 years.
The project is believed to be unique in its technical complexity and socioeconomic scope.
The Haramain High-Speed Rail project is also known as the ‘Western Railway’ and is a high-speed inter-city rail transport system under construction in Saudi Arabia.
Construction of the rail line started in March 2009. The railway is expected to carry three million passengers a year.