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FinancialNews
28-08-18
Bahrain spending on 1st metro project to hit USD1-2bn: report
(MENAFN) Bahrain is reportedly needed to allocate between USD1 billion and USD2 billion to spend on its first metro rail project.
The major project is expected to be set for commencement during the fourth quarter of 2019, with an overall space of 109km.
Bahrain News Agency (BNA) reported citing an official that the project is to be split to four phases and is to be completed in four year.
Transportation and Telecommunications Minister's adviser for roads Dr Abdulrahman Al Janahi confirmed that "the project will be funded by the government and the private sector in accordance with Bahrain Economic Vision 2030."
Dr Al Janahi added "tender for the project, which will take time due to the involvement of the private sector, is expected to be issued in the last quarter of 2019," noting that "the project, which will be implemented in four stages, will take four years to complete."
MENAFN2808201800450000ID1097352221
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