Saudi Arabia rail spending to reach $70 billion in the next ten years
Saudi Arabia’s infrastructure spending continues to surpass expectations. The Kingdom is especially committed to a nationwide transportation infrastructure expansion program which will feature one of the world’s most sophisticated rail and metro networks.
Spending on rail projects alone is forecast to reach around $79 billion in the next 10 years according to an article in the Saudi Gazette.
The total value of logistics projects connected to such developments across the GCC is projected to reach $3.7 billion by 2015.
Last year, GCC countries signed the biggest number of logistics contracts in the Middle East, fueled by large investments, high consumer spending, and rapid economic growth. The magnitude and multi-modal scope of regional transport investment initiatives are creating huge opportunities for developers, contractors, transport facility operators and their related industries.
To highlight Saudi Arabia’s market potential, Riyadh Exhibitions Company (REC), the leading exhibitions and conferences organizer, recently announced the launch of Saudi Logitrans 2014 – The International Exhibition for Transport, Logistics and Freight, and Saudi Rail 2014 – The International Exhibition for Rail, Metro Lines and Urban Transportation
The two events will be held on Oct. 27- 29, 2014 at the Riyadh International Convention and Exhibitions Center (RICEC), showcasing the latest products, equipment, technologies and services from international businesses from respective industries and providing an effective networking forum.
Zeyad Al Rukban, Deputy General Manager, Riyadh Exhibitions Company, said: “The aggressive pace of transportation infrastructure development in Saudi Arabia offers a conducive environment for regional and international logistics service providers to establish and expand their presence here. By providing integrated supply chains, freight forwarding services and specialized warehousing zones, these organizations can in turn boost the Kingdom’s industrial growth. Saudi Logitrans 2014 and Saudi Rail 2014 will facilitate the development of this rapidly expanding sector and highlight the wealth of existing and future opportunities that the Kingdom and wider GCC have to offer. It is an ideal platform to assess market needs and challenges as it will gather leading businesses and professionals from the industry.”
Saudi Logitrans 2014 and Saudi Rail 2014 are being organized under the patronage of the Saudi Ministry of Transport and Saudi Railways Organization. The Saudi Transport and Logistics seminars will be hosted concurrently. They will provide a forum for key government decision makers, transportation bodies, port authorities and industry professionals to announce initiatives, formulate strategies, discuss the latest case studies, and exchange information on global best practices.