Prince Mohammed bin Salman, Crown Prince and Prime Minister, announced on Saturday the signing of a Memorandum of Understanding (MoU) to establish intercontinental green transit corridors that would connect India, the Middle East and Europe.
Speaking at a meeting on the sidelines of the G20 summit in India, Crown Prince Mohammed declared he was “pleased to be gathered here to sign the MoU.”
“The project caps collective work over the past months to develop the framework of the MoU so as to achieve common interests between our countries by boosting economic connections,” he added.
The project will help develop infrastructure including railways and ports and increase trade between all concerned parties, he went on to say.
The project also aims to facilitate the transfer of renewable electricity and clean hydrogen via cables and pipelines.
It is also intended to enhance energy security, support efforts for the development of clean energy, promote digital economy through digital connectivity and transmission of data via fiber cables, and promote trade and transport of goods by rail and through ports.
