Saudi Arabia signed a contract worth 30.8 billion riyals ($8.2 billion) on Saturday with a Spanish consortium to build a high-speed railway connecting Islam's holiest cities, Makkah and Medina, with the port city of Jeddah.
Saudi Finance Minister Ibrahim Alassaf and Transportation Minister Jobarah al-Suraisry signed the agreement with Spanish Foreign Minister Jose Manuel Garcia-Margallo and Public Works Minister Ana Pastor.
Al-Shoula consortium, which comprises Spanish companies including ADIF, RENFE and Talgo, won the project last year after a long bidding process in which it competed with a French-led group.
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