Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Saudi land bridge linking up east with west to cost $26bn

The land bridge project is considered the most important project in Saudi Arabia, and it will be a quantum leap in the logistics sector after its completion.
  • According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains
  • The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said

A land bridge linking up the western part of Saudi Arabia with its eastern region will cost some $26 billion once all the factors have been taken into account.

According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains.

The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said.

He added: “We have been working with an international coalition led by a Chinese company and including national companies for two years.”

“A complete project plan was drawn up, cost and locations were determined. It will include 7 logistic centers and raise the level of the existing road from Riyadh to the Eastern Province.”

The land bridge project is considered the most important project in Saudi Arabia, and it will be a quantum leap in the logistics sector after its completion.