AECOM, Siemens to help build Riyadh metro system

|About: AECOM Technology Corporation (ACM)|By:, SA News Editor

AECOM Technology (ACM), Siemens (SI) and Bechtel are part of a consortium that has won a $9.45B project to build two lines for a metro-system in Riyadh. Bechtel heads the group.

In total, Saudi Arabia has handed out three contracts worth a total of $22.5B to construct six lines.

The other winning consortia are: one that includes Spain's Fomento de Construcciones y Contratas, France's Alstom (AOMFF.PK) and South Korea's Samsung C&T Corp. (SSGFF.PK); and another that includes Italy's Ansaldo STS (ASDOF.PK), Canada's Bombardier (BDRAF.PK) and India's Larsen & Toubro (LTORY.OB).

Design work is to start immediately, with construction set to begin in Q1 next year. The project is due for completion in 2019.