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Spanish-led consortium nets $8 bln Saudi contract

July 29, 2013

MADRID (AP) — Spanish construction and services company FCC says a consortium it leads has won a 6.07 billion euros ($8.06 billion) contract to build part of the subway in Riyadh, the Saudi Arabian capital.

FCC S.A. said in a statement Monday the consortium won a contract to design and build three subway lines over five years.

The deal was one of three awarded for the construction of Riyadh’s six-line subway network, which will extend 176 kilometers (109 miles).

FCC said its main consortium partners are Korean company Samsung and France’s Alstom. The consortium’s other members are Strukton of the Netherlands, Freyssinet Saudi Arabia, Spanish company Typsa and Setec of France.

FCC’s share price on the Madrid stock exchange jumped 4.09 percent on news of the contract.

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