SAPTCO subsidiary to operate Riyadh bus network in Q2-2019

26/10/2016 Argaam

Saudi Public Transport Co.’s (SAPTCO) subsidiary, Public Transport Co. (PTC), will begin commercial operations at its Riyadh bus network in Q2-2019, the company said in a statement on Tuesday.

 

The date was set by Arriyadh Development Authority (ADA) on Monday in a letter addressed to SAPTCO.

 

The company added that it’s currently difficult to measure the financial impact of the new network, as working plans are still being developed by related parties.

 

In November 2014, the SAPTCO-RATP Dev joint venture through PTC had won a ten-year contract worth 1.675 billion euros to implement, operate, and maintain the new bus network in the Saudi capital.

 

SAPTCO owns an 80 percent stake in the company, which was incorporated with SAR 10 million in capital.

 

The project came as part of a wider plan to develop and enhance the public transportation system and infrastructure, and to address traffic problems. 

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