The Transport Minister of Saudi Arabia and Chairman of Saudi Railways Company (SAR), Saleh Bin Nasser Al-Jasser, has launched a SAR 1 billion (USD 266.6 million) economic and industrial opportunities to attract the private sector to the rail sector development.

The announcement was made during the inauguration of virtual Railway Industrial Opportunities Forum on March 17, 2022, under the auspices of the National Industrial Development and Logistics Program (NDLP), with substantial participation by interested domestic and international industrialists and a selection of experts in the railway sector.

The forum aims at expanding partnership opportunities between the public and private sectors as well as developing the railway infrastructure as sector’s plans in the coming period to open up the market to new operators, and increase the private sector’s participation in freight operations, train passenger trips and assets.

The Forum comes within a year after the completion of the restructuring of the railway sector in the country under SAR’s Company, and at a phase in which the transport and logistics system has achieved several achievements in different sectors of the system.

The rail sector development covers project to expand the network by more than 8,000 km to achieve local and regional connection, doubling the capacity of transport by trains for passengers and freight, and adopting modern technology and advanced technical solutions to reduce the environmental impact of transport by trains, increase the competitiveness of Saudi products and promoting the efficiency of supply chains.