Saudia-Online the Net Gate to Saudi Arabia Market
Saudi Arabia Business News
Business Opportunities
Business Guide
Companies Directory
Corporate Websites
Currency Exchange
Saudi Arabia Events
Local News
Saudi Stocks
Monthly Economic Reports
Saudi Arabia Travel
Saudi Arabia Weather
Submit Press Release
Read Press Releases

Free Websites
 for Saudi companies and Establishment


for Foreign companies 
interested in exporting
to Saudi Arabia

Community Sign Up

Message Boards
Should women be in the army?

About Saudi Arabia
About us

Arabic cuisine
Arabic newspapers

Arabic radio and TV

Free downloads

Saudi Arabia ISP's

Science and Technology

Send us feedback


Traveling to Saudi Arabia

Phone Free

Top Saudi Arabia Business News& PRESS

Acquisition of land for the proposed railway expansion project
  Jeddah, 11th Apr 2001

   The Council of Saudi Chambers of Commerce and Industry has reached an understanding with concerned government agencies on acquisition of land for the proposed railway expansion project.

Osama Kurdi, secretary-general of the council, has said that under the agreement the company implementing the project will not pay compensation for government and private properties to be acquired for the purpose.

The move was aimed at cutting the cost for construction companies. However, Kurdi did not say who would compensate the property owners.

A consortium comprising Saudi, Canadian, German and Austrian companies had come forward with a proposal to implement the multibillion-riyal project on BOT (build, operate and transfer) basis.

The project, which will link the Kingdom’s eastern coast with the western coast and the northwestern part of the country with the capital Riyadh, is projected to cost more than SR12 billion ($3.2 billion). It is also aimed at increasing transport facilities to the Kingdom's untapped mining areas.

At least SR4 billion of this will be required to pay compensation to real estate owners, according to World Bank estimates. The final cost of the project depends on the technology used and many other factors.

After a meeting of businessmen held at the Jeddah Chamber of Commerce and Industry on Monday to discuss the project, Kurdi said efforts were under way to set up four independent companies to undertake the construction and operation of railways.

The meeting agreed to prepare a list of businessmen interested in the Riyadh-Jeddah railway as an initial step. The meeting, with the participation of 50 businessmen, approved a resolution stressing the private sector role in the project.

It discussed a number of plans including extension of the service to accommodate Haj and Umrah pilgrims, linking the network with railways in neighboring countries, linking of Taif and Yanbu, setting up of support services to increase economic viability of the project and restoration of old seaports along the railway.

Source: Arab News©

Send Page To a Friend  

Starting Business with Saudi Arabia Use the Saudi Business Guide

Join the mailing list
Your Email Address:

Archives Section

Back to Business News


Free services in Saudia-Online
Free services

Free Websites for 
Saudi Arabia

Free services

Free Websites for Saudi companies and Establishment

Free services

Free Websites for
Saudi Arabia Travel
Agencies and Companies

Free services

Free Domain

Free services

List your Saudi
Arabia Company in
our Directory

Free services

Subscribe to our

Free services Jobs......
Post a job!

Job Openings

Free services

Advertise Free
Classifieds section. 

Free services

Gift Reminder

Free services


Get Stock Quote: Enter Symbol(s)

Symbol Lookup
My Portfolio
Our Privacy Vow 


Make Saudia-Online My Start Page  -  Bookmark Saudia-Online
Contact Us -  Advertising Info -  About Us -  Terms Of Service -  Add My Site -  Privacy Policy 

© 1999-2000 by Horizon for Commercial Development Co., Ltd, All rights reserved.
  Saudia-Online,Malls2Save,JeddahMalls,RiyadhMalls,RiyadhShops,SaudiMade,Travel2Saudi and HDC are  trademarks of Horizon for Commercial Development Co. Ltd.  P.O. Box 14657, Jeddah 21434, Saudi Arabia
 Telephone 00966-2-6693585, Fax 00966-2-6693472

11 April 2001 01:26:04 PM

Click Here!