Riyadh – Mubasher: Jeddah’s government has conducted initial talks with banks to contribute to funding the public transport network in the city, Reuters reported.
Sources added to Reuters that Jeddah Metro Company is expected to make a formal invitation to other banks and companies in the next coming weeks to offer working as financial advisors for the project, which includes a metro, light rail, tram, rail, local bus, marine transportation, and a 2 km-long bridge.
The project, which will cover more than 800 kilometres, is likely to be developed under a build-operate-transfer contract, the agency quoted sources, adding that this contract usually involves private investors financing and building projects and operating them for a period of time, before eventually transferring ownership to the government.
French engineering and consulting firm SYSTRA had been previously hired to design the public transportation programme for Jeddah, according to Reuters.
