Saudi Arabia's aspirations to establish itself as a global logistics hub, capitalising on its geographical position relative to Asia, Europe, and Africa, has been boosted by the announcement that it will establish 59 multimodal transport centres.
This initiative is a key element of the broader National Transport and Logistics Strategy (NTLS).
Crown Prince Mohammed bin Salman, in a statement carried by the Saudi Press Agency (SPA), expressed the expectation that these hubs will be finalised by the end of the current decade.
The endeavour to enhance the logistics infrastructure is anticipated to foster economic diversification and attract increased foreign direct investment to the nation, as reported by SPA.
However, the precise financial particulars of the master plan have not been disclosed.
According to The National newspaper's coverage from the UAE, the plan is one component of an array of ongoing objectives set forth by the NTLS.
Prince Mohammed, who also oversees Saudi Arabia's Supreme Committee for Transport and Logistics, said the NTLS aims to fortify the logistical sector to bolster the economy and amplify local, regional and global ties within international trade networks and global supply chains.
The 59 hubs will collectively encompass an area exceeding 100 million square meters.
The kingdom intends to establish 12 hubs in both the Riyadh and Makkah regions, 17 in the Eastern region and an additional 18 hubs distributed across the country.
Presently, 21 hubs are already under construction, SPA said.
This focus on developing the logistics sector is central to Saudi Arabia's strategy to invest over 500 billion riyals ($133 billion) by 2030 to expand its transportation sector.
Furthermore, Saudi plans to embark on more than 300 projects related to transport and logistics in collaboration with private sector entities, both domestically and internationally.
Included are the launching of new airlines, expanding airport capacities, extending the railway network, and augmenting port capabilities.
