The Japanese trading house is expanding its railway operations in the Middle East.
Mitsui & Co., Japan's second-biggest trading house, said yesterday it has won a 90 billion yen ($763 million) order together with a group of companies for a railway construction project in Saudi Arabia.
Mitsui said it is teaming up with Al Rashid Trading & Contracting Co. of Saudi Arabia and Australia's Barclay Mowlem to build an 818km (508 miles) portion of the North-South Railway, which is being built to move mineral traffic from Saudi Arabia's interior to an industrial complex to be built on the Gulf coast.
A Mitsui spokesman said the trading house aims to expand its railway operations in the Middle East as demand for railway transportation is growing.
Mitsui said in February it was considering taking part in a $7 billion petrochemical complex in Saudi Arabia planned by Saudi International Petrochemical Co..
The Saudi government also plans to build a high-speed passenger line to the holy city of Mecca.
Masha'Allah, High speed Railways are an excellent form of transportation. The Kingdom is perfect for such a project. Traditionally Railways also expanded the developmennt of new communities. I hope to see this project completed soon. T Crowe O'Rourke Semler
In Saudi Arabia is great potential for high speed Railway trackes.specially tracks between madina and makkaha and cities of Dammam , Riyad and Jeddah should also to be interconnected because between these cities air and road ways are very costly. I hope to see in this project will use high level Technology.