RIYADH: Defying speculations of financial constraints and delay in developmental projects in the Kingdom due to the steep fall in oil prices, Transport Minister Abdullah Al-Muqbil has asserted that the Riyadh Metro project, estimated at $22.5 billion, will be completed on time.

The work on the ambitious Metro project began in April 2014 after the Arriyadh Development Authority (ADA) announced the winning bidders for design and build contracts for the construction of the 176.7km six-line automated Metro network in order to improve the traffic situation in the capital city.

Commenting on the current status of the project on the sidelines of the ongoing 4th International Federation Regional Conference for Roads in the Middle East organized by the Ministry of Transport in collaboration with the International Road Federation (IRF), Al-Muqbil confirmed that the Riyadh Metro project will be completed on time and denied all rumors about the extension of the period for its completion.

He said that the work on the project is moving fast and that 25 percent of the project has been completed.

He exuded confidence that the project will be completed within the next three years and also indicated that there are some metro lines, work on which will end ahead of schedule. He also ruled out the entry of new partners in the implementation of the project.

Commenting on the Gulf Cooperation Council (GCC) railway network, he confirmed that the project is under study. "The project study will end in March 2016 and then the discussion between the GCC countries will follow to execute the plan," the transport minister said.

He further said there is a plan for the implementation of more than 60,000km of roads over the coming years which is supported by the state because it is the foundation of development.

Meanwhile, Bertrand Besancenot, French ambassador in Riyadh, and Al-Muqbil on Wednesday discussed various aspects of cooperation in the transport sector to further enhance cooperation between the two countries.

The road and transport conference, which will conclude on Thursday, discussed important transportation issues including road safety and traffic precautions for motorists.

Speaking at the inaugural session, Patrick Sanki, chief executive officer at IRF, highlighted the importance of the conference and the role of the Kingdom in its successful organization to raise awareness on traffic norms and road safety leading to zero accidents.

Besides the technical sessions, the conference also staged an exhibition with dozens of companies.