Russian and Saudi Arabian rail companies have reportedly struck an agreement to expand the Saudi railway network.
The news was announced shortly after President Vladimir Putin’s trip to the Kingdom of Saudi Arabia recently.
The agreement between the Russian Direct Investment Fund (RDIF), Russian Railways, and the Saudi Railway Company (SAR), aims to expand the raily network and work on projects related to Saudi Arabia’s Vision 2030 Program.
The CEO of RDIF, Kirill Dmitriev, said the expertise from the participants “...will support the accomplishment of the ambitious tasks of modernizing the existing railway network, building new transport routes, and creating additional logistics opportunities for manufacturers and railway operators.”
He concluded: “We look forward to working on the first projects in the near future.”
The agreement comes as ties between Russia and Saudi Arabia get much closer, with a reported military deal in the offing.
Such a deal could see tensions between the US and Russia rise.
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