RIYADH: Saudi Arabia’s Public Transport Authority has signed an agreement to develop the legislative and regulatory environment for land, sea and rail transport activities in the Red Sea region.
Rumaih bin Mohammed Al-Rumaih, the chairman of the authority, signed the memorandum of understanding with CEO of The Red Sea Development Company, John Pagano, in Riyadh on Monday.
Al-Rumaih praised the strategic partnership with TRSDC, and said that they were looking forward to developing the transport sectors in the Red Sea region through cooperation and joint work.
He said that the two sides would create the legislative and regulatory environment to provide services according to the best international standards and models, through the use and employment of modern technology, to raise the level of quality and upgrade transportation options in the Red Sea.
Al-Rumaih said the agreement supported the objectives of the national strategy for transport and logistics services in developing services and improving the experience of beneficiaries.
It will also contribute to raising the quality of life in Saudi cities and regions, develop opportunities for innovation, technical cooperation, promoting investment, and help keep pace with the latest global developments in the transport industry in line with the Kingdom’s economic and social goals.
Pagano said that the goal was to connect the Red Sea destination in the best possible way using a fleet of smart vehicles to support sustainability goals in land, sea and air transportation.
FASTFACTS
The Red Sea Development Company was established in 2018 and is wholly owned by the Public Investment Fund.
The site covers more than 28,000 square kilometers on Saudi Arabia’s Red Sea coast.
It will comprise more than 90 islands — 75 percent of which will remain undeveloped.
The Red Sea Project will have its own airport.
By 2030, it is expected that 22 islands will be developed along with six inland sites. There will be 48 hotels hosting 8,000 rooms.
The agreement will adopt future and modern transportation technology, and will allow the two parties to exchange expertise regarding the economic zone in the Red Sea, hold workshops on modern transportation services, provide a suitable environment for investors in transportation and logistics services, and to cooperate in new and smart mobility.
