Work on $4bn King Hamad Cause­way to be­gin in 2021

CEO Middle East - - NEWS -

Saud Work on the new $4bn King Hamad Cause­way con­nect­ing Bahrain and Saudi Ara­bia is ex­pected to be­gin by mid-2021, ac­cord­ing to Saudi Ara­bia’s am­bas­sador to Bahrain.

Speak­ing to Al Ara­biya, am­bas­sador Ab­dul­lah Al Sheikh said that “the ten­der for the King Hamad Cause­way will be launched af­ter six months.”

“It is ex­pected that the project ex­e­cu­tion will start by mid-2021, where it will be com­plete in three years,” he added.

Al Sheikh said that the project – which is ex­pected to cost be­tween $3bn to $4bn – will also in­clude a rail line con­nected to the wider GCC net­work, ve­hi­cle lanes and cargo trains.

In Jan­uary, Bahrain Eco­nomic De­vel­op­ment Board (EDB) chief ex­ec­u­tive Khalid Al Ru­maihi said that he be­lieves Bahrain’s role in the GCC is “not well un­der­stood”, and that he be­lieves that the king­dom can be­come one of sev­eral hubs in the GCC, par­tic­u­larly as in­tra-GCC trade grows.

The value of that trade has al­ready grown from $15bn in 2002 to more than $120bn to­day, “and we think it can get to $500bn,” he added.

Ex­pected to sup­port bi­lat­eral trade be­tween both coun­tries in goods and ser­vices, the cause­way will run par­al­lel to King Fahd Cause­way (pic­tured above) and fea­ture a rail­way line for the planned GCC-wide net­work, cargo trains, and ve­hi­cle lanes.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.