Saudi Arabia plans to build first electric subway train for capital city
Is Saudi Arabia, a nation with one of the largest oil reserves, warning the rest of the world to curb fuel use by accepting bids to build its first electric subway, or do they simply benefit by selling more oil abroad?
Excerpt from Bloomberg Businessweek
Saudi Arabia, which is trying to curb domestic fuel consumption, said it shortlisted four groups to submit bids to build the first electrical subway train network linking major areas of its capital city, Riyadh.
The four groups should present their financial and technical bids for the project within four months, the Saudi Press Agency said today, citing Prince Sattam bin Abdulaziz, the head of ArRiyadh Development Authority.