04 Aug 2013
(MENAFN) The Saudi government plans to build the first metro rail system, at an estimated cost of around USD22.5 billion due in 2019. Its aim is to make the quality of life in the congested Saudi capital better. It also aims to shift the country’s economy beyond oil, The Peninsula Qatar reported.
Only 2 percent of Riyadh’s population use public transportation. This system will be a good supporter for Saudi Arabia in managing its oil resources more.
�The metro will drive down energy requirements for the transport sector, if the metro is incentivised by the government as a replacement to motor vehicles, and reduce environmental pollution,� said John Sfakianakis, chief strategist at investment firm MASIC.
This system will save a huge amount of gasoline since Saudi Arabia consumes about 500 thousands barrels each day, and exports below 8 million barrels a day.
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