Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Spending on rail projects to reach $79bn in 10 years  Join our daily free Newsletter

MENAFN - Arab News - 31/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) 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.
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 ), 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 from Oct. 27 to 29 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, REC, 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."
He said: "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 with the support of the 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.

 


Arab News




  MENA News Headlines
 Dec 28 2014 - Saudi's RCJY signs USD107.43m dealsMENAFN
(MENAFN) The Royal Commission for Jubail and Yanbu (RCJY) announced it has signed two contracts worth USD107.43 for the construction of a residential complex for the commission staff in Ras Al-Khair ...

 Dec 28 2014 - Saudi GOSI investments hit USD14.37b in 2014MENAFN
(MENAFN) The General Organization for Social Insurance (GOSI) announced that the value of its domestic investments has exceeded USD14.37 billion in 2014, which were circulated in nearly 68 companies, ...

 Dec 28 2014 - ME tourism grows strongly after slumpMENAFN
(MENAFN) After three years of decreasing figures, tourism numbers have rebounded this year, with data from a United National agency showing 4 percent growth in the first 10 months of 2014, Arabian ...

 Dec 28 2014 - Dubai's Danube invests USD81m on tower projectMENAFN
(MENAFN) Dubai's Danube Properties announced that it will be investing USD81.6 million on its affordable luxury apartment project 'Glitz by Danube', Arabian Business reported.The project will include ...

 Dec 28 2014 - Dubai's DI to invest USD2.7b on property projectsMENAFN
(MENAFN) Dubai Investments PJSC announced it has plans to invest USD2.7 billion in real-estate projects in the next five years, due to the increase in demand for property in the emirate, Gulf ...

 Dec 28 2014 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency)  Groups of Jewish settlers on Sunday stormed Al Aqsa Mosque yards via the Al-Magarbah Gate.The settlers toured in groups the Mosque's yards in a provocative manner under ...

 Dec 28 2014 - Public Holiday announced for Prophet Mohammad's BirthdayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, government departments and public institutions will observe a holiday on Saturday, 12 Rabi' al Awwal, 1436 Hijri corresponding to January 3, 2015, on ...

 Dec 28 2014 - Jordan to observe holiday on New Year's DayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, public departments and institutions will observe a holiday on Thursday, January 1, 2015 on the occasion of the New Year's Day, according to a ...

 Dec 28 2014 - Cold weather forecast over next two daysJordan News Agency
(MENAFN - Jordan News Agency)  A slight drop in temperatures is expected today and the weather will be cold in the hilly areas but fair in the Jordan Valley and Aqaba.According to the Jordan ...

 Dec 28 2014 - Israeli forces arrest 11 Palestinians in West BankJordan News Agency
(MENAFN - Jordan News Agency)  Israeli occupation forces on Sunday arrested 11 Palestinians from various parts of the occupied West Bank.Palestinian sources reported that the occupation forces ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help