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FINANCIAL NEWS
SRO to increase locomotives by ten
20 Jan 2011
(MENAFN) Saudi Railway Organization (SRO) president, Abdul Aziz Al-Hoqail, said that the company’s board of directors held a meeting that resulted with the decision of buying ten new locomotives as well as other decisions which aim to boost railway performance in the Kingdom, reported Arab News.
Al-Hoqail said that the 2011 budget for the organization was set during the meeting. He said that the budget included allocating adequate financing for a central signal and control system, railway tracks improvement, high-speed train tracks as well as safety measure and procedures.
The CEO added that new destinations were added to the railway’s network, The SRO also added new modern trains.
It is worth noting that the meeting was headed by the Saudi Transport Minister Jabara Al-Seraisry and included the approval of the organization�s executive and technical bylaws.
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