A proposed expansion of Saudi Arabia’s rail system is set to be one of the biggest construction projects in the Middle East and should revolutionize freight distribution in the region.
UBS had only allocated a medium-size conference hall at its London offices for the launch of plans to build the first railway linking Saudi Arabia’s major cities.
But there was standing room only by the time more than 200 bankers and contractors had piled into the bank, which, together with the Jeddah-based National Commercial Bank, is acting as adviser to the project, which conservative estimates suggest will cost $5 billion plus.
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