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Saudi Arabia to Seek Bidders for 1,000-Mile Red Sea-Gulf Railway [Bloomberg Business News]

MOSAIC (MOS)  More Company Research Source: Bloomberg Business News
Last mosaic earnings: 8/6 04:30 pm Check Earnings Report
US:NYSE Investor Relations: investors.mosaicco.com
PDF Tenders may come this year as private-sector revives interest Land Bridge freight route has been under discussion since 2008 Saudi Arabia plans to seek bidders for the construction of a 1,000-mile (1,600-kilometer) railroad linking the Red Sea with the Persian Gulf as early as the end of this year, signaling the go ahead for a long-delayed project seen as vital to reducing the economy’s dependence on oil. The so-called Land Bridge line will shave around three days off the current five-day journey time for shipping seaborne freight around the Saudi coast, while improving links to Riyadh, and Jeddah, the nation’s two biggest cities. Contract tenders will be issued at the end of 2017 or early in 2018 following an encouraging response to an invitation for expressions of interest, Saudi Railway Co. Chief Executive Officer Bashar Al Malik said in an interview. Saudi Arabia first awarded contracts [Read more]

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