Saudi Arabia has the largest mega projects market in the region by virtue of strong demographic growth, high oil prices and a capital investment program backed by strong political and economic support, said Konstantinos Giannakos, project director of SALFO & Associates SA for Saudi Arabian Railway. Giannakos made his observation at the opening day of the first Saudi Mega Infrastructure Projects (MIP-2012) summit that kicked off yesterday, adding that MIP has offered unprecedented insight and access into the knowledge of the biggest business-to-business projects market in the MENA region to its delegates.
He said: “This summit is not just a conference but a great way of connecting with industry people coming from various regions. Such a high-profile event is very helpful for industry as it plays a great role in exchanging ideas and sharing new knowledge about advanced technologies.”
The event, organized by MEED Events, was attended by a large delegation which included construction industry professionals coming from public and private sectors and was endorsed by the Ministry of Commerce & Industry. The summit is being supported by FA partners, an architectural engineering construction group of companies.
The high-profile event aims to highlight the development of mega projects in the Kingdom, the region’s largest construction sector.
The focus of the first day of the summit on Saudi Rail provided interesting insight into the rail sector of Saudi Arabia and the opportunities that come with it for both local and international contractors, consultants and specialist rail service providers.
Faisal S. Alfadl, founder of the Saudi Green Building Council and a prospective member of World Green Building Council, said railway technologies need to be more integrated with other means of transportation like roads and highways, buses, metros, to enable a better density of people mobility to the central business district and neighborhood communities.
He said: "I believe a revolution is needed in the rail sector so as to drive the people and economy of the country toward a better future," adding that the event would not have been possible without the permission of the Saudi government and the support of Custodian of the Two Holy Mosques King Abdullah whose vision to allow independent economic conferences such as this one is the reason behind making this summit a reality.
MIP-2012 summit kicks off
