Bombardier wins Saudi contract

Canada's Bombardier has signed a $241 million contract to build and operate a monorail system in Saudi Arabia, it has been announced.  The Montreal-based company has won the contract with Saudi Oger, a leading Saudi Arabian construction company, for the new 3.6 kilometer Innovia Monorail system in Riyadh. The system will stretch through the King Abdullah Financial District currently being built.  Saudi Oger subcontracted Bombardier after it was awarded the contract by the Rayadah Investment Company, the investment vehicle of the Public Pension Agency of the Saudi Arabian government.  BombardierÔÇÖs contract is for six 12-car Innovia Monorail 300 trains, which will operate without drivers. The system is due to be completed in 2012.  Engineering and design work for will be carried out in Kingston, Ontario, and the 12 cars will be manufactured in Pittsburgh, Pennsylvania. Saudi Oger will provide operation and maintenance services for the system for an initial contractual period of 10 years.  Commenting on the announcement, Andr├® Navarri, president and COO of Bombardier Transportation, said: ÔÇ£As the global leader in the supply and operation of turnkey transit systems, we are exceptionally proud to secure our first major project in the Kingdom of Saudi Arabia and to be associated with the prestigious King Abdullah Financial District.  ÔÇ£Our next generation Innovia Monorail 300 system combines service-proven driverless technology with the latest in wide-bodied, lightweight, aerodynamically styled monorail trains.┬á They provide superior value and performance for demanding and sophisticated users.ÔÇØ  He concluded: ÔÇ£The long-term nature of our Operation and Maintenance contract further underlines our commitment to building Local Roots in the Kingdom of Saudi Arabia and with other countries in the Gulf Cooperation Council.ÔÇØ  Headquartered in Canada, Bombardier is a world-leading manufacturer of transportation solutions. Its revenues for the fiscal year ended January┬á31┬á2010 were US$19.4┬ábillion.  Bombardier TransportationÔÇÖs Systems Division has delivered 60 transit systems in 16 countries, including 32 in cities and 22 in airports. Providing advanced rapid transit as well as light rail, subway and inter-city systems, the company is present in over 60 countries and has an installed base of over 100,000 vehicles.  Founded in 1978, Saudi Oger is a multi-company, multi-divisional organization with subsidiaries and affiliates in Saudi Arabia; the UAE; Jordan; China; the US; Paris; and Morocco.