Saudi Public Transport Company teams up with RATP Developpement to bid on a number of projects in Saudi Arabia and the Gulf
Saudi Public Transport Company (Saptco) has signed a partnership agreement with an affiliate of France’s Regiue Autonome des Transports Parisiens (RATP) to bid for public transport projects.
Saudi Arabia is expected to spend $400bn in the next five years on development projects which includes several transport projects such as tramway, metro and high-speed rail projects in both existing and planned cities in the kingdom.
Saptco says it will team up with RATP Developpement in preparation for current and future opportunities and projects in Saudi Arabia and also the wider Gulf region, Reuters reports.
The two firms will bid for proejcts in Saudi cities such as Mecca, Medina and Riyadh as well in upcoming economic cities that are under construction.
Saudi Arabia’s finance ministry’s Public Investment Fund is the biggest shareholder in Saptco which currently operates one of the kingdom’s most sophisticated bus transport services.