The King Fahad Causeway Authority this week signed a consultancy agreement worth around $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 assement and selection of the main developers. The total project value is estimated at $3.5 billion.
The agreement was signed on the sidelines of the Future Investment Forum (FII) held in Riyadh, and attended by HE Eng. Kamal bin Ahmed Mohamed, Bahrain’s Minister of Transportation & Telecommunications, Mr. Ahmed bin Abdulaziz Al-Haqbani, Chairman of King Fahad Causeway Authority and Eng. Emad Al-Muhaisen, Executive Director of King Fahad Causeway Authority.
Eng. Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications, said: “We are pleased to announce the appointment of the main consultancy consortium to start developing all necessary requirements and the financial model required for the construction of the new King Hamad causeway. This is a strategic project for us 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.”
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.