French Alstom deepens Saudi railway involvement with 12 active projects 

French Alstom deepens Saudi railway involvement with 12 active projects 
The company seeks to qualify national cadres through partnerships with educational institutions. Supplied
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Updated 27 October 2025
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French Alstom deepens Saudi railway involvement with 12 active projects 

French Alstom deepens Saudi railway involvement with 12 active projects 

RIYADH: French transport firm Alstom is executing 12 active railway projects across Saudi Arabia, revealed the company’s CEO for Saudi Arabia and the Middle East. 

In an interview with Al-Eqtisadiah during the Saudi International Railway Exhibition and Conference, Mohamed Khalil said the projects cover the full spectrum of rail services, including design, execution, operation, and maintenance.  

Alstom is a major contributor to Riyadh’s metro network, providing rolling stock and systems for four of the six lines. 

Saudi Arabia’s rail transport sector recorded a 335 percent year-on-year surge in passengers to 39 million in the third quarter of 2025, fueled by the full launch of the Riyadh Metro. 

“Saudi Arabia is witnessing a boom in railway projects, and many cities are experiencing internal growth, so they need to connect cities like Jeddah, Dammam, and Al-Ula, in addition to Al-Ula and Riyadh,” Khalil told Al-Eqtisadiah. 

He also pointed to the performance of the Riyadh Metro as evidence of a shifting public transport culture. Despite initial skepticism about its use in a hot climate, the metro has recorded approximately 100 million passengers in its first nine months of operation, establishing itself as a primary mode of daily transport. 

Positioning Alstom as a “global local company” in Saudi Arabia, Khalil stressed the company's deep-rooted presence. “We have been here for 70 years, and we aspire to continue for hundreds of years to come, to be an essential part of the infrastructure supporting the growth and development of the railway industry in Saudi Arabia,” he concluded. 

The conference was inaugurated by Saudi Arabia’s Minister of Transport and Logistics Services, Saleh Al-Jasser, who highlighted the significant leaps the sector is witnessing.  

He emphasized that modern rail transport has become a fundamental pillar for national development and economic growth, facilitating trade and mining operations. 

In a separate statement, Bashar Al-Malik, CEO of the Saudi Railways Co., confirmed that Saudi Arabia is working on implementing the remaining parts of a railway line that will link it to other Gulf Cooperation Council countries.  

A 200-km section connecting Dammam to Ras Al-Khair via Jubail is already complete and operational. The final timeline for the GCC-wide rail link is pending approval from the Gulf states’ leaders. 

Saudi Arabia’s railway network now spans over 5,500 km, including the northern network connecting Riyadh to the Jordanian border, the eastern network linking Riyadh to the Arabian Gulf coast. 

The Haramain High-Speed Railway, which connects the holy cities of Makkah and Madinah with one of the world's fastest electric trains. 


Qatar sells $4bn in two-part debt issue

Qatar sells $4bn in two-part debt issue
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Qatar sells $4bn in two-part debt issue

Qatar sells $4bn in two-part debt issue

ABU DHABI: Qatar, among the world’s top exporters of liquefied natural gas, tapped global debt markets for $4 billion in a two-tranche issue which attracted hefty order books and allowed the Gulf state to achieve more favorable pricing than initially indicated.

Qatar sold a $1 billion, three-year bond at 15 basis points over US Treasuries and a $3 billion Islamic bond, or sukuk, with a 10-year tenor at 20 basis points over the same benchmark, according to a document from a lead manager.

Orders for the issuance hit $13.5 billion ahead of launch, fixed income news service IFR reported, allowing the sovereign — rated AA by Fitch and S&P and Aa2 by Moody’s — to tighten pricing substantially from earlier guidance.

In the second quarter of 2025, Qatar posted a budget deficit of 757 million riyals ($208 million) as public spending rose 5.7 percent from a year earlier and lower oil prices weighed on revenue.

It raised $3 billion from debt markets in February.

Several Gulf sovereigns have issued debt in recent weeks as strong global appetite and attractive borrowing costs have allowed governments to increase funding sources to help refinance debt, plug budget deficits, and invest in ambitious economic diversification plans.

Deutsche Bank, Goldman Sachs International, QNB Capital and Standard Chartered Bank were mandated global coordinators on Qatar’s bond issue. They were joined by Santander, Citi, Emirates NBD Capital, ICBC, IMI-Intesa Sanpaolo and SMBC as joint lead managers.

Citi, Deutsche Bank, QNB Capital and Standard Chartered Bank were global coordinators for the sukuk as well as joint lead managers along with Al Rayan Investment, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs, Islamic Corporation for the Development of the Private Sector, IMI-Intesa Sanpaolo and KFH Capital.