Saudi Arabia Nears Deal to Settle Billion-Dollar Metro Dispute
- Two consortia that include Alstom, Bechtel reached settlement
- Agreement would mark a turning point for delayed project
Metro lines leading toward the King Abdullah Financial District Metro station in Riyadh, Saudi Arablia.
Photographer: Fayez Nureldine/AFP/Getty Images
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Saudi Arabia is set to pay contractors potentially billions of dollars to resolve a dispute over the Riyadh metro, people familiar with the matter said, taking the long-delayed project one step closer to completion.
Two out of three consortia, which include Bechtel Group Inc. and Alstom SA, have already reached an agreement for the disputed payments, the people said, asking not to be identified as the information is private. The third group, which includes Italy’s Webuild SpA, is expected to sign a deal soon, they said.