DUBAI
Bahrain-based Gulf International Bank’s investment banking arm has been hired by the Jeddah, Saudi Arabia, as a financial adviser on a bridge project, the first stage of a larger multi-billion-dollar public transport network in the city.
GIB Capital will advise on the Obhur Creek Bridge project, which will span around 360 metres in length and carry eight lanes of traffic and a metro line, and be located next to the King Abdulaziz International Airport. The mandate was disclosed by sources and later confirmed on the local government’s Twitter feed. The larger project encompasses a metro, light rail, tram, rail, local bus and marine transportation. Proposals for the bridge project were originally unveiled in 2014 when the plan was for it to be government funded.
