King Fahad Causeway Authority awards consultancy agreement worth around US$ 9 million
The King Fahad Causeway Authority today signed a consultancy agreement worth around US$ 8.9 million with the winning consortium (KPMG, AECOM and CMS), a consortium of financial, technical, and legal companies that will work on developing the financing model, the required engineering specifications, design, as well as the helping with the assessment and selection of the main developers. The total project value is estimated at US$ 3.5 billion.
The agreement was signed on the sidelines of the Future Investment Forum (FII) held in Riyadh, and attended by Eng. Kamal Bin Ahmed Mohamed, Bahrain’s Minister of Transportation & Telecommunications; Ahmed Bin Abdulaziz Al-Haqbani, Chairman of King Fahad Causeway Authority and Eng. Emad Al-Muhaisen, Executive Director of King Fahad Causeway Authority.
“This is a strategic project for the Kingdom of Bahrain which will further enhance our logistics sector and the links between our two countries allowing us to realise common aspirations and reinforce the strong bilateral relations we have with the Kingdom of Saudi Arabia,” affirmed the Bahraini Minister.
The new King Hamad Causeway will be constructed based on a public-private partnership model and will include a parallel rail line. The causeway will be developed and operated following international best practices.
