The team of experts overseeing the Gulf Cooperation Council (GCC) Railway project discussed preparations for offering the project’s operational plan and asset management to competition.
In their 15th meeting, which was held by videoconference, the experts stressed the importance of implementing and operating the project.
Representatives of relevant authorities in GCC states and national railway companies operating railways and metros also attended the meeting.
The experts stressed the importance of updating the addendums that were approved for the project as well as identifying documents that need to be completed.
They also emphasized the need for preparing for the workshop on the virtual train trip under the requirements of the COTIF document, the unified system for issuing passenger tickets for the project, and the Gulf register of vehicles.
According to a statement issued by the meeting, the experts agreed to form working groups to follow up with the consulting offices that will prepare the studies.
In general, the railway sector enhances the competitiveness of Saudi commodities in foreign and domestic markets, by reducing the cost of transportation while increasing connectivity with neighboring countries.
It also increases the attractiveness of the Saudi market to foreign investors.
A study recently issued by the Riyadh Economic Forum confirmed that the sector maximizes the contribution of transport and storage by more than 10 % to the GDP.
The study pointed out that the sector contributes to strengthening and transforming Saudi Arabia into a global center for transport and logistics services, noting that the network development plans aim to reach more than 330 million passengers annually.
According to the study, the sector will increase the length of railways from 5,500 km currently to 13,000 km, an increase of 160 %.
It will also boost the number of transported containers to 40 million.
