Saudi Arabia’s Metro Jeddah Company expects to appoint a transaction adviser for the estimated $1bn Obhur Suspension Bridge soon.

MEED understands at least two financial firms – UK-based HSBC and Bahrain-based Gulf International Bank (GIB) – were invited to bid for the contract.

The bridge will link the north and south banks of Obhur Creek in north Jeddah.

The bridge will extend two kilometres across the creek and will be 74 metres wide with a maximum clearance of 51 metres. The bridge is designed to include four lanes for road traffic in each direction and a segment of the planned Jeddah Metro Orange line.

The bridge was tendered in 2015. MEED understands the joint venture of Spain’s Obrascon Huarte Lain (OHL), Lebanon’s Consolidated Contractors Company and Japan’s IHI was the frontrunner for the contract.

However, the contract was not awarded and the scheme has been converted into a public-private partnership (PPP).