Ministry of Investment in Saudi Arabia signs MoU with French company Alstom
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Ministry of Investment in Saudi Arabia signs MoU with French company Alstom

Ministry of Investment in Saudi Arabia signs MoU with French company Alstom

The MoU aims to explore the future of sustainable transport in the kingdom and identify investment opportunities in railway infrastructure

Zubina Ahmed

The Ministry of Investment in Saudi Arabia (MISA) has signed a memorandum of understanding (MoU) with French rail company Alstom to enhance the kingdom’s sustainable and smart transportation sector.

According to the Saudi Press Agency, the MoU highlights the kingdom’s investment opportunities in the transport sector and establish Alstom’s regional headquarters in Saudi Arabia.

The MoU further aims to explore the future of sustainable transport in the kingdom related to railway infrastructure, sustainable transport technologies and reducing carbon emissions, in line with the objectives of the kingdom’s Vision 2030.

The Saudi Vision 2030 is a strategic framework to reduce Saudi Arabia’s dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation and tourism.

Recently, MISA in cooperation with the Ministry of Industry and Mineral Resources participated in the annual economic forum of the BMG financial group at the London Stock Exchange, where they showcased investment opportunities in the industrial sector and sectors such as entrepreneurship and fintech.

In other news, Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz, announced the design of a new zero-carbon city ‘The Line’ in NEOM. The design of ‘The Line’ shows how futuristic urban communities will be free from roads, cars and emissions, run on renewable energy, prioritise people’s health and contribute to preserving 95 per cent of NEOM’s land.

Read: Saudi Arabia’s Crown Prince announces design of ‘The Line’ in NEOM

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