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FINANCIAL NEWS
Saudi Arabia loses USD21.6b annually on accidents
19 Dec 2011
(MENAFN) Saudi Minister of Transport Jabara Al-Seraisry unveiled plans to overhaul the transport system in six major Saudi cities, Arab News reported.
The growing number of accidents in the kingdom is costing the economy around USD21.6 billion annually.
Al-Seraisry said that the first phase of the plan aims to set up a comprehensive public transport system in these cities that is more reliable and efficient.
Al-Seraisry also unveiled a plan to establish separate transport regulatory authorities in the cities, adding that an inter-ministerial panel will carry out the strategy to fund the new transport projects in the cities.
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