Saudi Arabia launches first railway package of economic opportunities, investments exceed SAR 1 bln

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser said that the launch of the Railway Industrial Opportunities Forum presents the first package of economic and industrial opportunities, whose expected investments exceed SAR 1 billion.

It is also expected to provide a qualitative advantage and added value not only to the transport sector, but to several supporting and complementary sectors.

The minister indicated that the forum is aimed at expanding partnership opportunities between the public and private sectors and developing the railway infrastructure, according to the sector's plans over the coming period. The targets include opening the market to new operators, and increasing the participation of the private sector in freight operations and transport, Saudi Press Agency reported.

Al-Jasser also indicated that the ambitious objectives of the National Strategy for Transport and Logistics Services include enabling and supporting the leading national strategies in the industry and trade sector, leading to tourism, Hajj and Umrah, through a package of major projects and programs.

This includes the establishment and operation of a solid, safe and effective infrastructure of railways that boosts connectivity between the Kingdom’s regions and provide reliable, high-quality services for transport and freight via railways. This, in turn, will contribute to reducing the consumption rates of energy resources in the transport sector and increasing safety rates during travel.

The expansion plans of the railways in the coming years are aimed to increase the network by more than 8,000 additional kilometers to achieve local and regional connectivity, doubling the capacity of transport by trains for passengers and freight, and adopting modern technology and advanced technical solutions.

This will contribute to reducing the environmental impact for transportation by trains, as well as increase the competitiveness of Saudi products and raise the efficiency of supply chains, said the minister.