An official from Saudi Arabia's Ministry of Investment and an Alstom executive after the signing ceremony. SPA
An official from Saudi Arabia's Ministry of Investment and an Alstom executive after the signing ceremony. SPA
An official from Saudi Arabia's Ministry of Investment and an Alstom executive after the signing ceremony. SPA
An official from Saudi Arabia's Ministry of Investment and an Alstom executive after the signing ceremony. SPA

Saudi Arabia and France's Alstom to explore investments in sustainable transport


Alvin R Cabral
  • English
  • Arabic

Saudi Arabia has signed a preliminary agreement with French rail company Alstom to explore investment opportunities that will support the kingdom's sustainable transport sector.

The agreement, signed by the country's Ministry of Investment, aims to identify opportunities in railway infrastructure powered by sustainable technology and energy sources with lower carbon emissions, which are in line with its Vision 2030 economic programme, the state-owned Saudi Press Agency said.

The deal will also look into the establishment of Alstom's regional headquarters in the kingdom, the SPA said.

Saudi Arabia is in the middle of a major economic diversification drive under its Vision 2030 agenda, amid a push to reduce its reliance on oil and tap into other high-growth industries to boost its economy, create more jobs and attract private investment to boost economic development.

One of the programme's core pillars is a focus on sustainability. The Arab world's biggest economy set a goal of achieving net zero carbon emissions by 2060 through a “circular carbon economy approach” that is compatible with the kingdom’s development and diversification plans, Crown Prince Mohammed bin Salman said at the Saudi Green Initiative forum last October.

Some of the key projects coming up in the country have already started putting in place sustainable measures.

In April, the Red Sea Development Company, which is building a big tourism destination in the kingdom, said that it would use biofuel generators from Germany's Man Energy Solutions to provide power to its operations.

The kingdom's electric vehicle market is also growing as more motorists adopt sustainable modes of transport, driving the country into a top-50 spot for the first time in the latest industry index released by AlixPartners in April.

Earlier this year, French company TotalEnergies also signed a preliminary agreement with Jeddah-based Altaaqa to develop and install integrated electric vehicle charging stations in the kingdom.

On the rail infrastructure side, Saudi Arabia is currently developing the $23 billion Riyadh Metro, the kingdom's second rail transport system that comprises six main lines measuring 176km.

Alstom won a $1bn contract to upgrade Cairo’s oldest metro line last year. The agreement, which was signed with Egypt’s National Authority for Tunnels, is for 55 nine-carriage trains and includes an eight-year maintenance contract.

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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES

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In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
While you're here
Updated: August 05, 2022, 6:55 AM`