Business & Money | Thursday 14 May, 2015 3:18 pm |

Nesma and the French public transport operator Keolis signed a Memorandum of Understanding in Jeddah on Sunday, May 10th 2015, allowing the two companies to form a strategic alliance committed to developing new public transport systems within the Kingdom of Saudi Arabia.


Keolis is an international leader in passenger transport, operating all modes of transport across four continents. The company is supported by two long-term shareholders; the French National Railways Corporation (SNCF), which holds a 70% share, and the Canadian institutional fund manager (CDPQ) which has a 30% share.


Faisal Al Turki, Vice President of Nesma Holding stated: “I am pleased to announce this in-kingdom partnership between Keolis and Nesma. Together, we bring best in- class global expertise, combined with strong local knowledge and support, across the spectrum of public transport operations. I look forward to the opportunity to work with the various public transport authorities around the Kingdom on their ambitious and unprecedented programs.”


Karim Chaiblaine, CEO of Keolis in Middle East, said: “Keolis is committed to developing public transport systems within the Kingdom of Saudi Arabia, with Nesma complementing the Middle East Teams now located in Jeddah and Riyadh. Nesma and Keolis will leverage on their joint resources and expertise, abiding by the highest international standards.


“We are honoured to enter into a partnership with such a leading company as Nesma, who share our values to safety and customer focus, and we are determined to provide world-class services to the residents of the Kingdom of Saudi Arabia. This is the first step in a long-standing and successful relationship.