A $16.5 billion metro railway project planned for Saudi Arabia’s holy city of Makkah has been delayed so that its financing can be restructured, an official said on Wednesday, but he later retracted the statement.
Ali Abdelfattah, chief executive-designate of the Saudi government’s Makkah Mass Rail Transit (MMRT), initially told a construction industry conference in Dubai: “The reason for the delay is some restructuring financially”.
He said that while work on privately funded schemes was largely unaffected in Saudi Arabia, all government-funded projects were going through some sort of restructuring or replanning.
New budgeting constraints have caused changes to the Mecca plan such as modifications to the design of the metro stations, Abdelfattah said. More info
By Reuters arabianbusiness.com