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FinancialNews


  • 26-08-12

    Plans to build a USD9.3b metro system in Jeddah

    (MENAFN) Jeddah plans to build a metro system, a project that would cost around USD9.3 billion, Reuters reported, citing a deputy mayor of the city. Ibrahim Kutubkhana, deputy mayor for projects and construction, said the 108km metro system would have three lines and 46 stations, according to the preliminary studies. Jeddah, housing over 3 million people, has been struggling with inadequate infrastructure and is undergoing a multi-billion dollar overhaul as it seeks to become a trade and tourist hub. Saudi Arabia is spending more than USD400 billion to modernize its infrastructure by 2013. It has no metro systems at present but the capital Riyadh and the holy city of Mecca have launched plans to build them.

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