Arab Today, arab today land worth 800m for riyadh metro
Last Updated : GMT 19:16:56
Arab Today, arab today
Arab Today, arab today

Land worth $800m for Riyadh Metro

Arab Today, arab today

Arab Today, arab today Land worth $800m for Riyadh Metro

Riyadh: Arab Today

Saudi Arabia will spend about SR3 billion ($800 million) on land acquisition to build one of the world’s largest metro systems in Riyadh, said Ibrahim Al-Sultan, president of the Arriyadh Development Authority. “This is already budgeted and we are talking about SR3 billion compensation for the land to be acquired,” he told Reuters. “The land is already chosen and the teams already started the process three months ago.” Riyadh Gov. Prince Khaled bin Bandar launched the $22.5 billion project last week, awarding contracts to three consortia for the design and construction of the system. The project will involve construction of six rail lines extending 176 km and carrying electric, driverless trains. Design work will start immediately and construction will begin in the first quarter of 2014, officials said. The project is expected to be completed in 2019. Al-Sultan said land would be acquired for the metro in 35 locations but he did not expect the purchases to disrupt Riyadh\'s real estate market. “We are keeping the process of acquiring all land needed for the project to a minimum, so that it will not affect the huge market of Riyadh,” he said. Asked how the Riyadh metro would be financed, and whether the ADA might issue sukuk (Islamic bonds) to fund it, Al-Sultan noted that when Custodian of the Two Holy Mosques King Abdullah announced the budget surplus last year, he allocated SR200 billion of it for public transport systems. “This amount is already available at the central bank,” Al-Sultan said without elaborating on financing options. The project will require tens of thousands of workers, private sector companies have estimated. Assembling this labor force to complete the project on time may be a challenge, because the country has been tightening controls on its large population of foreign workers in an effort to reduce unemployment among its citizens. Al-Sultan said Saudis would participate in the project taking management and other positions, but operating the metro would be more important in terms of creating jobs for Saudis. “Up to 90 percent of the people running the metro will be Saudis,” he said. Before construction starts there will be eight months for government agencies to coordinate on obtaining the necessary foreign workers source: Jeddah - Arab Today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today land worth 800m for riyadh metro Arab Today, arab today land worth 800m for riyadh metro

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday