British public transport company Mobico Group said its ALSA subsidiary has won an eight-year transport contract in Saudi Arabia worth €500 million ($581 million).

The contract, which will be run with a local company, includes the operation of 156 vehicles, 126 of which will be electric, serving the Public Investment Fund-backed Qiddiya megaproject in Riyadh.  

The contract involves the operation of park & ride facilities and shuttle services connecting Riyadh and Qiddiya, the company said in a statement.

The contract 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.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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