RIYADH: Saudi Arabia and the US announced that they had signed a memorandum of understanding between the two countries on Friday, the two governments said in a joint statement on Saturday.

The bilateral MoU provides a framework for developing a protocol for establishing intercontinental green transit corridors through the Kingdom to connect the continent of Asia with the continent of Europe, they added.

The project aims to facilitate the transit of renewable electricity and clean hydrogen via transmission cables and pipelines, as well as constructing rail links.

It is also intends to enhance energy security, support efforts for the development of clean energy, promote the digital economy through digital connectivity and transmission of data via fiber cables, and promote trade and transportation of goods by rail and through ports.

The Kingdom said that it welcomed the role of the US to facilitate and support the negotiations, establishment and implementation of the green corridors transit protocol with the relevant countries.