Saudi Railways CEO says north-east network, Jubail internal rail totaled SAR 2 bln

Bashar AlMalik, CEO of Saudi Railways Co.

The railway project linking the east line with the north line together with the internal railway network project in Jubail Industrial City valued at SAR 2 billion, CNBC Arabia reported, citing Saudi Railways Co.’s (SAR) CEO Bashar AlMalik.

The project returns are divided into direct and indirect, which make the investment profitable and serve the company.

The project will allow all industrial and commercial facilities connected to the railway network to reach three ports through the train, easily and with flexibility.

This will contribute to boosting the competitiveness of these facilities’ products worldwide.

He pointed out that SAR’s projects are proceeding according to the plans, indicating that the global economic crisis will not affect the projects performance thanks to the government support.

According to data compiled by Argaam, SAR announced on Oct. 9 the launch of the railway linking the north and east networks, and the internal network project in Jubail Industrial City, under the patronage of Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province.