Saudi high speed rail funding gets on track

A Saudi-Spanish consortium has signed a SR3.04b ($810.6m) loan from a syndicate made up mainly of Spanish banks. BBVA, Banco Espanol de Credito, Banco de Sabadell and Caxia Bank were joined by the Spanish subsidiary of Crédit Agricole and Deutsche Bank.

  • 03 Jul 2012
The loan will be used to finance the first stage of a high speed rail line running between the two Saudi holy cities Mecca and Medina.