Saudi Eastern Province closes $40m deal to improve its public transport network
Riyadh-based Saudi Public Transport Co., also known as SAPTCO, has sealed a SR150 million ($40 million) deal for a public bus transport project in the Eastern Province’s Dammam and Al Qatif governorate.
The contract, signed with the Eastern Province Municipality, will be valid for five years, the homegrown transport firm said in a bourse statement.
The Transport General Authority partnered with the Eastern Municipality to supply the project with eight lanes over a distance of 453 kilometers, 212 stops, and 85 buses, SPA reported, citing the authority’s president Rumaih Al Rumaih.
From reducing the effects of environmental pollution to rationalizing energy consumption, the project comes in line with Saudi Vision 2030.
Upon its completion, the region is expected to see less traffic congestion and more organized transportation systems, SPA reported.
SAPTCO noted that the deal’s financial impact is expected to reflect on the company’s financial statements during the first half of the ongoing year.