Chinese JV bags $720 mln Saudi rail deal

Saudi Railway Co (SAR) has awarded a 2.7 billion riyal ($720 million) contract to a consortium that includes China Civil Engineering Construction Corp to build a rail link, a senior executive said on Saturday.

The group includes Al-Ayuni Trading and Contracting Co and Al-Abdulaziz al-Omer Establishment for Trading and Contracting, said Abdulrahman al-Hoari, finance manager at Al-Ayuni.

The contract involves civil works for the 500 km rail section linking the capital Riyadh to Al-Qassim, part of the mega North-South rail project. The Chinese firm will build the metal tracks.