Riyadh – Mubasher: The Saudi Public Transport Company (SAPTCO) has signed a contract with Arriyadh Development Authority to operate the public bus services.

With a total value of SAR 73 million, the two-year agreement was signed on Tuesday, 27 February, according to SAPTCO’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The Saudi transportation firm expected that the transaction’s financial impact will start to appear during the first quarter of 2018.

On Monday, SAPTCO stated that it was cooperating with the regulatory authorities to begin the public bus services in the Saudi cities of Riyadh and Jeddah next Tuesday.

SAPTCO’s stock fell 1.17%, closing Tuesday at SAR 15.19.