2003 News Story

Financial consultation tender awarded for railroad expansion project

President of the General Railroad Organization (GRO) Khaled Al-Yahya announced today that a consortium of UBS investment bank and Al-Ahli Commercial Bank has won a tender to offer financial consultative services for the expansion of the Kingdom’s railway network. Its mandate includes forwarding a study and recommendation relating to technical and commercial solutions that need to be adopted in order to construct and operate the proposed rail extensions.