January 25, 2009 – The joint venture of Saudi Binladin Group and Thales has been granted a $534 million (SR2 billion) contract by Saudi Arabia’s Public Investment Fund (PIF) for work on the North-South Railway Project (NSRP). The contract includes construction, infrastructure, and maintenance work for signaling and telecom networks over 994 to 1,118 miles of the railway line. The project is expected to begin in July and be completed in three years. Saudi Binladin Group is also working on a 358-mile stretch of track as part of the NSRP’s main construction package.