The Chief Executive Officer and Chairman of the Board of Russian Railways Oleg Belozorov, the CEO and Chairman of the Board of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev and the CEO of Saudi Railway (SAR) Company Bashar al-Malik signed a cooperation agreement on 14 October 2019 in Riyadh, the capital of Saudi Arabia.
The agreement is aimed at the joint expansion of SAR’s rail network and projects related to Saudi Arabia’s Vision 2030 Programme, including the supply of rail products.
The parties will also consider the possibility of supplying Russian systems for train regulation and safety, as well as training and instructing railway specialists from the Kingdom of Saudi Arabia in Russia.
"Today there are favorable preconditions for establishing close cooperation between our countries in the field of rail transport. Taking into account the extensive experience of the Russian Railways Holding in the construction of railway infrastructure, I would like to given an assurance that we are ready to offer the Saudi side all our experience, progress and technologies in a long-term partnership and to implement everything in Saudi Arabia," said Oleg Belozorov, CEO and Chairman of the Board of Russian Railways.