Siemens, Europe's largest engineering company, has won a €1.5 billion contract to provide two driverless subway-train lines in the Saudi Arabian capital, Riyadh.
The order from Saudi Arabia’s high commission for urban development includes electrification systems and signalling technology, the company said in a statement yesterday.
The German company was shortlisted more than 14 months ago as part of a partnership to develop the Riyadh subway network. Siemens says the total project value is €7.5 billion, shared with San Francisco firm Bechtel and local construction companies Almabani General Contractors and Consolidated Contractors.
Siemens withdrew in July from bidding to supply £1 billion of trains to London’s Crossrail commuter network project. – (Bloomberg)