French firm tipped to win $2bn Saudi transport deal
French state-owned public transport operator RATP Dev has said it has been recommended for a $2 billion contract to operate and maintain buses in Riyadh for 10 years.
RATP Dev said in a statement that the Saudi Arabia High Commission of Public Transportation favoured awarding the deal to a joint venture between it and the Saudi Public Transport Company (Saptco).
It added that the decision is still subject to approvals from the King of Saudi Arabia, Abdullah bin Abdulaziz Al Saud, with the final decision expected to be issued in a few weeks.
The buses project includes the establishment of an integrated transport network consisting of 24 bus routes and 956 buses.
Saptco had earlier announced that it teamed up with an affiliate of France’s Regie Autonome des Transports Parisiens (RATP) to bid for public transport projects.
Saudi Arabia is spending $400 billion in the five years to end 2013 on development projects which include several transport projects – especially tramway, high speed trains and metros – in existing or planned cities in the kingdom.
RATP Dev is present in 12 countries across four continents.