Transport Minister and Chairman of Saudi Railway Organization (SRO) Jabara Al-Seraisry said the SEC would provide 600MV to the 450-km high-speed railway as well as its stations at King Abdullah Economic City in Rabigh and Madinah.

"We are now in the process of completing all requirements to implement the Haramain Railway project as quickly as possible," said Al-Seraisry after signing the agreement along with Finance Minister Ibrahim Al-Assaf, chairman of the Public Investment Fund.

SRO President Abdul Aziz Al-Hokail said the SEC would set up six main 380KV power supply stations for the railway. Under the accord, it will also establish 380KV supply lines with a total length of 245 km to link the six stations with the electricity network.

He said the SEC has agreed to complete all its works and services by the end of 2012, which indicates that the much-awaited railway would be launched in early 2013.

Last year British firms Foster and Partners and Buro Happold were awarded a SR142 million ($37.9 million) contract to design the railway's four stations while a SR6.7 billion contract was awarded to a group led by Al-Rajhi Group to conduct its civil works.