The story
Establishment and early development
SAPTCO was established in 1979 as a Saudi joint-stock company under Royal Decree No. M/11, dated 5 February 1979, with an initial capital of 1 billion Saudi riyals. The company's formation was subsequently announced through a resolution of the Minister of Commerce on 9 July 1979.
On 12 November 1979, Royal Decree No. M/48 granted SAPTCO a concession to provide passenger bus transportation on the Kingdom's public road network, both within and between cities. The concession was initially granted for 15 Hijri years and was subsequently renewed and extended. Saudipedia identifies a renewal issued on 12 October 2015.
Expansion and diversification
Over the following decades, SAPTCO developed its passenger transportation operations and expanded into urban transportation, international routes and specialized transport services. Its activities also came to include transportation associated with pilgrimage, educational institutions and business customers.
In 2007, the company's capital increased from 1 billion to 1.25 billion Saudi riyals. SAPTCO subsequently expanded its activities through subsidiaries and partnerships in different areas of passenger transportation.
Strategic partnerships
In 2010, SAPTCO established a partnership with RATP Dev. The partnership led to the establishment of the Public Transport Company, in which SAPTCO holds an 80% interest and RATP Dev holds 20%. The company was established to participate in the development and operation of the Riyadh public bus network.
A second joint venture, Capital Metro Company (CAMCO), was established with SAPTCO holding a 20% interest and RATP Dev holding 80%. CAMCO was established to operate and maintain two lines of the Riyadh Metro system.
In 2014, SAPTCO established the Saudi Emirates Integrated Transport Company (SEITCO) in partnership with Emirates Transport. The company was established to provide school transportation services in Saudi Arabia.
Development of urban transportation
SAPTCO expanded its participation in urban transportation through the Riyadh Bus network and the Riyadh Metro project. These projects formed part of the development of integrated public transportation in the Saudi capital.
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In the 2020s, SAPTCO continued to develop its transportation activities, including urban mobility, specialized services and digital transportation solutions. Its corporate reporting also discusses operational development and newer transportation technologies.
From Wikipedia’s article on Saudi Public Transport Company, shared under CC BY-SA 4.0.4