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KSA plans consortiums to build and manage roads, ports
20 April 2017
Saudi Arabia has decided to set up consortiums with international companies to construct and manage its roads and ports, the country’s transport minister was reported as saying.
Sulaiman Al-Hamdan told Arabic daily Okaz on Wednesday that the government has entered such alliances to manage and expand five airports in the Western Medina town, the Western Red Sea port of Yanbu, Hail in Northwest Saudi Arabia, the Western Taif city and the central Al-Qassim province.
"We are planning to create new consortiums with global companies for the ministry's projects including roads and ports…this will enhance performance and services compared with current management systems," he said.
The new alliances, which will include local and foreign firms, will construct and manage the projects for contracted durations.
"The revenues from such projects will be shared by the ministry and those firms. At the end of the contract, the airports and other projects will be handed back to the ministry," he added.
© Zawya Projects News 2017