Arab News, Tuesday, Jul 6, 2021 | Zul Qaadah 25, 1442
‘$150 billion boost’ from new Saudi transport strategy
Saudi Arabia:
Saudi Arabia expects its new transport and logistics strategy to generate 550
billion riyals ($150 billion) in investments by 2030 in areas such as public
transport, railways, and airports expansion and development, the Kingdom’s
transport and logistical services minister said on Monday.
Saleh Aljasser said the government would provide 35 percent of the needed
investments, and the rest would come from private investors. The strategy would
have multiple benefits on economic activities because it would connect many
sectors, such as Hajj and tourism, as well as industries, he said.
Abdulaziz Alduailej, president of the General Authority of Civil Aviation, said
Saudi airlines would aim under the new strategy to reach 250 destinations
worldwide, up from 90 destinations currently. The country aims to increase
airport capacity to 330 million passengers a year, up from 103 million.
Crown Prince Mohammed bin Salman launched the new transport and logistics
blueprint a week ago. It aims to position the Kingdom as a global logistics hub
connecting three continents, and improve all transport services in support of
Saudi Vision 2030.
A host of projects are planned to help achieve the strategy’s economic and
social goals, including the launch of a second national airline, along with
improved governance to enhance the work of the organizations involved.
The Ministry of Transport was renamed the Ministry of Transport and Logistics
Services.
“This strategy will strengthen human and technical capabilities in the transport
and logistics sector in the Kingdom,” the crown prince said.