The Spanish Transport Minister, Óscar Puente, announced a €2.8 billion operation to benefit Spanish companies in Saudi Arabia, including the extension of Renfe's role on the Medina-Mecca high-speed rail line until 2038.
Óscar Puente, the Spanish Minister of Transport and Sustainable Mobility, has unveiled a significant financial commitment amounting to €2.8 billion aimed at supporting Spanish businesses in Saudi Arabia. This announcement comes alongside the renewal of Renfe's contract as the operator of the Haramin project, which connects the holy cities of Mecca and Medina, extending its service until 2038. The project is seen as a crucial opportunity for Spanish firms to enhance their presence in the Middle East, leveraging the region's burgeoning infrastructure sector.
In addition to Renfe's continued involvement, the announcement includes that Talgo has secured a crucial contract worth €1.332 billion for the manufacturing and maintenance of 20 new high-speed trains for Saudi Arabia Railways (SAR). This endeavor not only signifies Spanish expertise in rail transport but also strengthens the bilateral ties between Spain and Saudi Arabia, facilitating further investments and collaborations in infrastructure and technology.
The contract extension will allow Renfe to generate approximately €300 million annually from operations and maintenance services provided to the Saudi government. The collaboration established through these contracts highlights the strategic importance of Saudi Arabia's transport sector as it aims for modernization and efficiency improvements, creating a promising landscape for international businesses engaged in transportation technologies and services.
