Mobico's ALSA lands deal in Saudi Arabia as part of joint-venture
Mobico Group PLC on Thursday said it has won a pact in Saudi Arabia as part of a joint-venture.
The National Express operator’s ALSA subsidiary has won the deal, which is worth €500 million over eight years.
‘The contract, which will be run with a local company, includes the operation of 156 vehicles, 126 of which will be electric, serving Qiddiya, a new city on the outskirts of Riyadh. Qiddiya is one of Saudia Arabia’s key strategic projects and is expected to become the largest entertainment destination in the country,’ Mobico added.
‘This contract win builds on ALSA’s existing presence in Saudi Arabia, where it began operating in October 2023, providing long-haul, intercity services across the southern region of the country.’
Mobico shares rose 2.8% to 28.52 pence each in London on Thursday afternoon, but is down 61% over the past 12 months.
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