WORK SET TO START ON $3.5BN KING HAMAD CAUSEWAY MEGA PROJECT
The King Fahad Causeway Authority on Tuesday signed a consultancy agreement on the sidelines of the Future Investment Forum in Riyadh worth around $8.9 million to start work on the $3.5 billion project linking Bahrain and Saudi Arabia.
A winning consortium of KPMG, AECOM and CMS, a mix of financial, technical, and legal companies, will work on developing the financing model, design, of the mega project as well as the helping with the assessment and selection of the main developers.
Running parallel to the existing King Fahad Causeway, the causeway is expected to be about 25 km long and will carry passenger trains, freight trains and vehicles to reduce the traffic on the King Fahad Causeway.
Kamal bin Ahmed Mohammed, Bahrai’s Minister of Transportation and Telecommunications, said: “We are pleased to announce the appointment of the main consultancy consortium to start developing all necessary requirements and the financial model required for the construction of the new King Hamad Causeway.
“This is a strategic project for us, which will further enhance our logistics sector and the links between our two countries allowing us to realise common aspirations and reinforce the strong bilateral relations we have with the Kingdom of Saudi Arabia.”
The new King Hamad Causeway will be constructed based on a public-private partnership model.https://www.arabianbusiness.com/transport/431871-work-set-to-start-on-35bn-king-hamad-causeway-mega-project