Search Site

Trends banner

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

Saudi Arabia launches bus transport project linking 200 cities

The project will help in creating over 35,000 direct and indirect jobs. (SPA)
  • The project will have a capacity to accommodate six million passengers annually.
  • It will operate through three international alliances in three concession areas.

RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant mega bus transport services project aimed at linking 200 cities and provinces.  

The project will have a capacity to accommodate six million passengers annually.

The project operates through three international alliances in three concession areas, utilizing a state-of-the-art fleet of buses equipped with advanced technological features to establish connections across 76 routes within the designated cities and provinces.

The inaugural ceremony, organized by the Transport General Authority (TGA), was attended by a group of ministers, ambassadors and officials from government authorities and private sector companies.

During the ceremony, the minister, who also serves as the chairperson of the board of directors at TGA, highlighted the project’s contribution to creating over 35,000 direct and indirect job opportunities, with an anticipated addition of SAR3.2 billion to the Gross Domestic Product (GDP).

Al-Jasser said that this groundbreaking initiative, designed to improve services for beneficiaries and strengthen private sector partnerships, represents the first foreign investment in this particular field.

He also emphasized the positive impact of the National Transport and Logistics Strategy (NTLS) launched by Saudi Crown Prince Mohammed bin Salman which has been instrumental in fostering growth and reform across all sectors of the transportation and logistics system.