Saptco taps French firm for transport projects
Jeddah, February 2, 2010
Saudi Public Transport Co (Saptco), which operates one of Saudi Arabia’s top bus transport services, has teamed up with an affiliate of France’s Regie Autonome des Transports Parisiens (RATP) to bid for public transport projects.
Saudi Arabia is spending $400 billion in the five years to end 2013 on development projects which include several transport projects - especially tramway, high speed trains and metros, said a statement.
Saptco has signed a “strategic cooperation agreement” with RATP Developpement that would “enhance the two firms’ competitiveness in operating and the maintenance of integrated public transportation networks,” the Saudi firm said in a statement on the bourse website.
Saptco added: “(The agreement) is in preparation for existing and future opportunities and projects in the Kingdom and in Gulf countries which are witnessing a growing development in the field of public transportation.”
The two firms will bid for projects in Saudi cities such as Makkah, Riyadh and Medina as well as in economic cities that are under construction, Saptco said.
Saudi Arabia has one passenger railway of less than 400 km (248.5 miles) linking the capital Riyadh to the eastern city of Dammam. – Reuters