Dubai: Saudi Arabia will invest more than 500 billion riyals ($ 133.34 billion) at the airport, sea port, train and other infrastructure at the end of the decade in an effort to make the kingdom of a global transportation and logistics center, said the transport minister on Monday , Crown Prince Mohammed bin Salman, who encouraged economic diversification to weaning Saudi Arabia from oil income and created employment, announced drives of transportation and logistics, which some details have been released publicly on Tuesday.
The Minister of Transportation and Logistics Services Saleh bin Nasser Al-Jasser said at an event in Saudi Arabia that the strategy included many Mega projects, with more than 500 billion riyals intended for investment.
The strategy is the latest economic policy to place Riyadh in competition with the United Arab Emirates, business centers, trade, and tourism in the region.
Saudi Arabia plans to increase the number of international flight routes from 99 to more than 250 and more than three times annual passenger traffic from 109 million in 2019 to 330 million in 2030, Abdulaziz al-Beruuilj, said the head of the flight authority, said on same event.
The current international network of royal royal is significantly smaller than smaller neighboring countries, UAE or Qatar, which is a large air transport hub.
Al-Beruuilj said the annual capacity at King Khalid Riyadh airport and Abdulaziz King Jeddah International Airport would each expand to 100 million passengers, without saying when.
He also said the kingdom was aimed at becoming a global air transport hub, handling 4.5 million tons of air cargo a year, up from 900,000 in 2019.
Saudi Arabia previously announced a new national operator will be launched as part of a strategy, which aims to make the Kingdom Center The fifth largest global air passenger transit.
The source familiar with the plan has told Reuters, the new airline will target international transit traffic, complain directly against Gulf Giants Emires and Qatar Airways.
Other airlines Saudi Arabia, such as the country’s owned sister and its subsidiaries, mostly operates domestic services and point-to-point flights to and from a country consisting of 35 million people.