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Riyadh Seeks to Ease Traffic Congestion by Launching Metro Project

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
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Riyadh Seeks to Ease Traffic Congestion by Launching Metro Project

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)

Saudi Arabia is preparing to launch the “Riyadh Metro” project, one of the largest public transportation projects in the region, which promises to improve the quality of life for residents by reducing traffic congestion and air pollution.

Minister of Transport and Logistics Eng. Saleh Al-Jasser recently announced that the landmark Riyadh Metro is in its final stages and nearing completion.

In 2013, the government awarded contracts worth $22.5 billion to three international consortia led by some of the world’s largest railway manufacturers to design and build Riyadh’s first metro network. The main network for the Riyadh Bus system was completed in Sept. 2023, serving as a crucial feeder to the metro system through 54 routes and 2,145 stations and stops spread across the capital.

The Riyadh Metro consists of a network of six main lines spanning the city, aiming to connect vital areas and facilitate daily commutes for the city’s 7.5 million residents. As the capital aims to double its population by 2030, the government recently allocated SAR 6 billion ($1.6 billion) to improve the city’s infrastructure, a figure four times higher than previous contracts, according to the Riyadh Municipality.

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. The metro network is also connected to King Khalid International Airport, the King Abdullah Financial District, major universities, downtown Riyadh, and the public transport center, according to the Royal Commission for Riyadh City.

The six routes of the Riyadh Metro network are:

1. Line 1 (Blue Line): Al-Olaya - Batha - Al-Ha’ir axis, 38 km long.

2. Line 2 (Red Line): King Abdullah Road, 25.3 km long.

3. Line 3 (Orange Line): Madinah Road - Prince Saad bin Abdulrahman Al-Awal axis, 40.7 km long.

4. Line 4 (Yellow Line): King Khalid International Airport axis, 29.6 km long.

5. Line 5 (Green Line): King Abdulaziz Road axis, 12.9 km long.

6. Line 6 (Purple Line): Abdulrahman bin Awf Road - Sheikh Hassan bin Hussein bin Ali Road axis, 30 km long.

Ticket prices

The cost of a ticket for the Riyadh Bus, the main feeder for the Riyadh Metro, is 4 riyals ($1.07) and is valid for two hours, starting from the first check-in on a bus or by activating the ticket through the app.

The same ticket can be used to transfer to another bus within this time. Children up to six years old can ride for free, while metro ticket prices have not yet been announced.

Infrastructure

The public transport project includes 21 public parking areas, each accommodating between 200 and 600 cars, to facilitate the use of the metro network. These parking spots are distributed to make transfers easier.

In September, the Riyadh Municipality signed five contracts worth SAR 6 billion to improve road quality, representing four times the value of previous contracts. Additionally, SAR 70 billion ($18.6 billion) has been allocated to improve the road network in Riyadh, as previously announced by Minister Al-Jasser during the Smart Cities Conference in May.

Eco-friendly

Environmentally, Riyadh’s buses use low-sulfur fuel, making them among the most eco-friendly vehicles, contributing significantly to reducing carbon emissions and improving air quality, according to the Royal Commission for Riyadh City.

The metro network will also play an active role in reducing harmful greenhouse gases and mitigating rising temperatures in the city by providing sustainable transportation options. This effort aligns with broader goals to improve the quality of life for residents and visitors and create a healthy environment for all.

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ECB's Lagarde Renews Integration Call as Trade War Looms

FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
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ECB's Lagarde Renews Integration Call as Trade War Looms

FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo
FILE PHOTO: European Central Bank President Christine Lagarde and Governor of the Bank of Finland Olli Rehn arrive at the non-monetary policy meeting of the ECB's Governing Council in Inari, Finnish Lapland, Finland February 22, 2023. Lehtikuva/Tarmo Lehtosalo via REUTERS//File Photo

European Central Bank President Christine Lagarde renewed her call for economic integration across Europe on Friday, arguing that intensifying global trade tensions and a growing technology gap with the United States create fresh urgency for action.
US President-elect Donald Trump has promised to impose tariffs on most if not all imports and said Europe would pay a heavy price for having run a large trade surplus with the US for decades.
"The geopolitical environment has also become less favorable, with growing threats to free trade from all corners of the world," Lagarde said in a speech, without directly referring to Trump.
"The urgency to integrate our capital markets has risen."
While Europe has made some progress, EU members tend to water down most proposals to protect vested national interests to the detriment of the bloc as a whole, Reuters quoted Lagarde as saying.
But this is taking hundreds of billions if not trillions of euros out of the economy as households are holding 11.5 trillion euros in cash and deposits, and much of this is not making its way to the firms that need the funding.
"If EU households were to align their deposit-to-financial assets ratio with that of US households, a stock of up to 8 trillion euros could be redirected into long-term, market-based investments – or a flow of around 350 billion euros annually," Lagarde said.
When the cash actually enters the capital market, it often stays within national borders or leaves for the US in hope of better returns, Lagarde added.
Europe therefore needs to reduce the cost of investing in capital markets and must make the regulatory regime easier for cash to flow to places where it is needed the most.
A solution might be to create an EU-wide regulatory regime on top of the 27 national rules and certain issuers could then opt into this framework.
"To bypass the cumbersome process of regulatory harmonization, we could envisage a 28th regime for issuers of securities," Lagarde said. "They would benefit from a unified corporate and securities law, facilitating cross-border placement, holding and settlement."
Still, that would not solve the problem that few innovative companies set up shop in Europe, partly due to the lack of funding. So Europe must make it easier for investment to flow into venture capital and for banks to fund startups, she said.