Consultants Sought For $4bn Bahrain-Saudi Link
Bahrain’s King Fahd Causeway Authority (KFCA) said it has invited bids from qualified transaction advisory services consultancies for implementing the transitional phase of King Hamad Causeway, a 25-km-long strategic artery linking the kingdom with Saudi Arabia, to be built at an investment of $4 billion.
The transitional phase is likely to take up to three years, during which a consultant will be charged with developing a partnership framework between the public and private sectors, conducting a financial feasibility study and preparing the legal framework, preliminary designs and technical features, said the KFCA. Earlier, the Bahrain News Agency had reported that the main construction work would be tendered by the end of 2020. The new causeway, which is set to run parallel to the existing King Fahad Causeway, will carry passenger trains, freight trains and vehicles, it stated.
According to KFCA, the winning firm will act as the transaction advisor in the form of a consultancy consortium (financial – technical – legal) and will be responsible for providing consultancy services for the planned causeway. The consortium would be led by only a Saudi Arabia or Bahrain-registered financial consultant, it stated. The last date for submission of bids is February 21, 2019.
News Sources : The Gulf Business
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