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The government withheld tens of billions of dollars owed to builders and suppliers during the 2015 oil recession to help curb a ballooning budget deficit. but with Crude prices rebound This year, the kingdom is preparing to record its first budget surplus in nearly a decade.
“Bechtel” and international companies seek to collect billions of unpaid Saudi bills
Saudi Arabia awarded contracts worth regarding $22 billion in 2013 to develop the metro system, which includes approximately 175 kilometers of railways. The project was scheduled to be completed in 2019.
Representatives for Bechtel and Alstom did not immediately respond to requests for comment. The Royal Commission for the City of Riyadh, which oversees the project, did not respond.
Other companies involved in the project include Spain’s Fomento de Construcciones & Contratas and Britain’s WS Atkins.
The completion of the Riyadh metro is an important part of Crown Prince Mohammed bin Salman’s plans to double the size of the city and turn it into an international business center, in parallel with working to reduce carbon emissions.
