Saudi Arabia Railways inks deal with Air Products Qudra for hydrogen fueling stations

Air Products Qudra will build multiple hydrogen train fueling stations for SAR. Air Products Qudra.
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Updated 16 November 2023
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Saudi Arabia Railways inks deal with Air Products Qudra for hydrogen fueling stations

RIYADH: Hydrogen fueling stations will be built along select train routes in the Kingdom after Saudi Arabia Railways signed a memorandum of understanding with Air Products Qudra.

The MoU establishes an engagement for prospective collaboration between both parties, whereby Air Products Qudra will build multiple hydrogen train fueling stations for SAR, according to a press release. 

The future hydrogen fueling stations will be built along the Riyadh to Al-Kharj, Dammam to Jubail, and Ras Al-Khair to Jubail train routes. 

The MoU is a part of Saudi Arabia’s efforts to increase the use of clean energy, reduce carbon emissions, and protect the environment. The deal will also help the region accelerate its journey to ensure net-zero emissions by 2060. 

Air Products Qudra’s CEO Ebubekir Koyuncu said: “We are honored to collaborate with SAR and look forward to developing ways we can deploy our global expertise, experience, and world-class engineering capabilities to support SAR and the Kingdom’s vision.” 

He added: “Hydrogen is essential to the energy transition and is playing a crucial role in creating low-carbon, sustainable transportation.”

In October, SAR had entered into an agreement with its French partner Alstom to commence testing for its hydrogen train project.

SAR and Alstom will embark on operational experiments and studies to assess the trains’ compatibility with the environment, setting the stage for their future deployment, according to a Saudi Press Agency report.

Following the agreement with Alstom, SAR CEO Bashar bin Khaled Al-Malik said that the hydrogen train stands as one of the most pivotal innovations in modern sustainable transport.

The development came after SAR and Alstom signed a deal to develop hydrogen train solutions tailored for the Kingdom in September 2022. 

Air Products Qudra is a joint venture for the Middle East between Air Products and Qudra Energy. On its website, the company says that it helps countries in the region achieve net-zero targets. 

In March, NEOM’s water and electricity subsidiary ENOWA  signed an agreement with Air Products Qudra to build, own, and operate the giga-project’s first hydrogen fueling station. 

The facility will help decarbonize heavy modes of transport covering buses and trucks.


Closing Bell: Saudi main index climbs to 10,485 

Updated 21 December 2025
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Closing Bell: Saudi main index climbs to 10,485 

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59. 

The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining. 

The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65. 

The MSCI Tadawul Index advanced by 0.13 points to 1,377.44. 

The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38. 

The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85. 

Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95. 

Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03. 

The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28. 

In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80. 

On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co. 

Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement. 

The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company. 

The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026. 

The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.