The MoU aims to identify investment opportunities in the public transport sector related to railway infrastructure, sustainable transport technologies and reducing carbon emissions, in line with the objectives of the Kingdom’s Vision 2030.
The Ministry of Investment and Alstom will also work together to establish Alstom’s regional headquarters in the Kingdom of Saudi Arabia.
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.
The news follows an announcement made by Saudi Arabia earlier this year that it is working on a series of hydrogen-based programs aimed at making its transport sector more sustainable. Among them is the use of hydrogen fuel cell-based technologies for trains.
In the rail sector, an MoU was signed with Saudi Railways Company for the development of hydrogen fuel cell-based trains. It was revealed where or how the project will take place.