The Minister of Finance and Chairman of the board of directors of the General Investment Fund, Dr. Ibrahim bin Abdulaziz Ala'ssaf signed here today a contract with a number of companies to supervise the construction of the North-South Railway.
The railway will link Alhadithah Center, located along the Saudi-Jordanian border, with the city of Riyadh. The railway will pass through Jouf, Hail, Qasim and Sudair.
The railways will also link the northern region, Hazm Aljalameed, and the region of Hail, Alzobairah, to transport phosphate and bauxite to Ras Alzoor in the northeast of Saudi Arabia, with the extension of the railway to the city of Jubail. The long stretch of the railway will be about 2,400 kilometers long.
In a press conference following the signing of the contract, the Minister said the total value of the contract is SR512,879,032, about US$136,767,742 and will last for 75 months.
The Minister explained that the implementation of the project will be introduced in an open international competition by a company owned by the General Investment Fund.
