Saudi Railways records 18 percent revenue rise in 2001
The state-owned Saudi Arabian Railways Organization (SARO) registered 18 percent revenue growth in 2001, reaching profits of 150 million Saudi riyals ($40 million), reported KSA Today. Last year, the organization’s trains carried more than 850,000 tons of cargo and 800,000 passengers.
SARO Director General Khaled Bin Hamad Al-Yehia attributed the growth to the Gulf Cooperation Council (GCC) decision to lower customs fees. This, in turn, increased merchandise movement through the Saudi Kingdom.
The Kingdom’s railways are managed by SARO, originally called the Saudi Railway Corporation. Established in 1966 as an independent public utility, the organization is governed by a board of directors. SRO operates a 1,391 kilometer network of main and secondary railroads, three main passenger stations, the dry port in Riyadh and a fleet of locomotives and cars. — (menareport.com)
© 2002 Mena Report (www.menareport.com)