RIYADH — Minister of Transport and Logistic Services and Chairman of the Saudi Railway Company (SAR) Eng. Saleh Al-Jasser on Thursday inaugurated the virtual “Railway Industrial Opportunities Forum” under strategic patronage of the National Industrial Development and Logistics Program (NIDLP) with wide participation of local and international industrialists, interested people and experts in the railway sector.
The minister said that the launch of the first pack of the economic and industrial opportunities, whose anticipated investment volume exceeds more than SR1 billion, will provide a qualitative advantage and added value not only for the transport sector, but also for supportive sectors that complement the railway industry.
He noted that the forum seeks to expand partnership opportunities between the public and private sectors and develop the railway infrastructure according to the railway plans over the upcoming period, which aims at opening the market for new operators and increasing the participation of the private sector in shipping operations and trips for transporting passengers and assets.
He also pointed out that the forum is held after one year of completing operations of restructuring the railway sector in the Kingdom under SAR’s umbrella in a phase that the transport and logistic services system, thanks to the support of the wise leadership, realizes several and diversified achievements in various sectors of the system.
The minister stressed that the expansion plan over the coming years seeks to increase the length of railways with an additional 8,000 kilometers to realize local and regional networks in a way that doubles the capabilities of passenger and cargo trains and reduces the environmental impact by adopting advanced technological solutions.
He added that rail transport will increase the competitiveness of Saudi products and boost the efficiency of supply chains. SAR, with its cumulative expertise and big capabilities through its three grids spanning over 5,500 kilometers (North Train, East Train and Haramain High Speed Rail), managed to carry more than 33 million passengers and over 70 million tons of minerals and goods over the past 10 years. This means shifting more than six million trips on trucks, which reflected on the number of fatal accidents on roads which came down by over 50% during the past five years.
For his part, SAR CEO Dr. Bashar Al-Malik said that the industrial opportunities offered in the forum are the result of meeting local needs based on studies conducted by SAR in a way that matches its strategic goals and several important programs of the Saudi Vision 2030, such as NIDLP, Doyof Al Rahman Program (DARP), and Quality of Life Program, among others. He stressed the company’s willingness to overcome all challenges in partnership with all government sectors and take necessary decisions toward localizing the railway industry.
Al-Malik urged the private sector to invest these opportunities as main partners in a vital and promising sector. “Localizing the railway industry is no longer an option but a strategic goal that we seek to realize with determination,” he said.
The forum witnessed offering industrial opportunities in the railway sector, the top of which are manufacturing train cars, train wheels, engine spare parts and towing engines, and railroads. — SPA
