PIF signs railways contracts

Riyadh, April 07, SPA -- Minister of Finance Dr. Ibrahim bin
Abdulaziz Al-Assaf, who is also the Chairman of the Board of
Directors of the Public Investment Fund (PIF) signed here today three
contracts of the Saudi Railways Company (SAR) valued at SR
2,390,000,000.

The contracts cover the communication systems; line signaling;
locomotives import and wagon-Trailers of "the North - South" railway
project that extends from Hazm Al-Jalameed and Hadithah in the north
to Ras Al zour on the Arabian Gulf with extensions to Aljouf, Hail,
Qassim and Riyadh comprising a total length of 2400 kms.


The first contract was signed with French Thales Group. It covers
main line signalling, telecommunication, supervision, security and
fare collection systems in cooperation with Bin Laden Group and is
estimated to cost SR 1,710,000.000 with a specified 5 year period for
its implementation.

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