RIYADH: Saudi Arabia’s Railway Industrial Opportunities Forum was inaugurated on Thursday, to unveil economic opportunities exceeding SR1 billion ($266 million) to the railway industry.
The forum was launched by the Minister of Transport and Logistics Saleh Bin Nasser Al-Jasser under the auspices of the National Industrial Development and Logistics Program.
It aims to expand partnership opportunities between the public and private sectors, as well as develop the railway infrastructure, as per the sector's plans in the coming period, Al-Jasser added.
He explained that this would open up the market to new operators, and increase the private sector's participation in freight operations, train passenger trips, and assets.
The event comes a year after the restructuring of the railway sector in the Kingdom under SAR’s Company.
Saudi Arabia plans to increase its railways by over 8,000, to achieve local and regional connection, double transport capacity, and adopt modern technology to reduce the environmental impact of transport, he added.
