Saudi Rail Forum Offers $266.3 Million Project Opportunities

Saudi Railway Company has announced that its main railway industrial forum, held in the capital Riyadh, offers a first package of economic and industrial opportunities worth more than SR 1 billion (266.3 million dollars) to companies. local and international.

The forum witnessed industrial opportunities in the railway sector, the main ones being the manufacture of train carriages, train wheels, engine spare parts and towing motors, and railways, reported SPA.

The event was inaugurated today (March 17) by the Minister of Transport and Logistics Services and Chairman of the SAR, Engineer Saleh bin Nasser Al Jasser, under the strategic patronage of the National Industrial Development and Logistics Program (NIDLP).

The minister said that the forum’s launch of the first economic and industrial opportunities pack will bring qualitative advantage and added value not only for the transport sector, but also for the support sectors that complement the railway industry.

“The forum aims to broaden partnership opportunities between the public and private sectors and develop railway infrastructure in line with railway plans over the next period, which aims to open the market to new operators and increase the participation of the private sector to maritime operations and travel for the transport of passengers and goods,” he noted.

Al Jasser pointed out that the forum is being held after a year of completion of the restructuring operations of the railway sector in Saudi Arabia under the aegis of the SAR in a phase where the transport and logistics services system achieves several diversified achievements in various system sectors.

The minister also pointed out that the railway expansion plan over the next few years aims to increase the length of the railways with more than 8,000 additional km to achieve local and regional connection in a way that doubles the passenger and freight train transport capacities and adopt modern trains. advanced technologies and technological solutions that contribute to reducing the environmental impact of rail transport, increasing the competitiveness of Saudi products and improving the efficiency of supply chains.

SAR – with its cumulative expertise and great capabilities through its three networks spanning lengths in excess of 5,500 km (North Train, East Train and Haramain High Speed ​​Rail) – has managed to transport over 33 million passengers and counting of 70 million tons of minerals and cargo over the last 10 years, which means moving more than six million truck trips, which has reduced the number of accidents on the roads and reduced the number of deaths by more than 50% in the past five years, said the SPA report.

CEO Dr. Bashar Al Malik said these industrial opportunities are the result of meeting local needs based on studies conducted by SAR in a way that aligns with its strategic objectives and several important programs of the Saudi Vision 2030, such as NIDLP, Doyof Al Rahman Program (DARP), and Quality of Life Program, among others.

Emphasizing the company’s readiness to overcome all challenges in partnership with all government sectors and take the necessary decisions to localize the railway industry, Al Malik called on the private sector to utilize these investment opportunities and become main partners in a vital and promising sector.

The localization of the railway industry is no longer an option but rather a strategic objective that we seek to achieve with determination, he added.

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Melvin B. Baillie