A group of investors in the Kingdom’s taxi sector have plans to establish a giant company with a capital of SR 1 billion.
Saeed Al-Bassami, deputy chairman of the National Committee for Land Transport, told Al-Madinah that more than 730 investors who own about 30,000 cabs may transform their firms into a joint stock company within two years. Under the plan, the taxi sector would style itself on the London taxi system.
He added: “Under the system, all taxis will be monitored through a satellite channel. Their movement, location, and direction will be under surveillance using GPS technology.”
He said this would help taxi companies know the whereabouts of each cab and allow parents to keep an eye on daughters who take a taxi.
According to Al-Bassami, there will be seven branch companies under the umbrella of a parent company in major cities in the Kingdom. He said the parent company would spearhead the initiative to reorganise the taxi sector in the Kingdom.
“The process of merging the taxi firms into major companies will be optional in the beginning. At later stages, the merger will be completed in an organised manner to encompass all the taxis operating in the Kingdom.”
Al-Bassami said the ministries of transport and labour have given the go ahead for the new system. He said a study to modernise the Kingdom’s transport system has been completed and is now awaiting implementation.
Authorities have been urged to upgrade the Kingdom’s public transport system, especially the taxi sector.