Riyadh – Mubasher: The Russian Direct Investment Fund (RDIF), Russian Railways, and Saudi Railway Company (SAR) have signed an agreement on exploring possibilities for the cooperative construction of transport infrastructure.
The deal was signed on the sidelines of President Vladimir Putin’s visit to the Kingdom on Monday, according to RDIF’s recent statement.
The deal is focused on jointly participating in expanding Saudi Rail network projects related to the Vision 2030 program, including meeting the supply needs of railway products for SAR.
The three parties will consider the potential supply of Russian systems to strengthen safety, as well as fostering the transfer of knowledge from Russian railways to Saudi Railway.
“The various financial and technological expertise from all parties will support the accomplishment of the ambitious tasks of modernizing the existing railway network, building new transport routes, and creating additional logistics opportunities for manufacturers and railway operators. We look forward to jointly commencing work on our first projects in the near future,” Kirill Dmitriev, CEO of RDIF, commented on the deal.
