India is investing in upgrading

In contrast, the IMEC is a multilateral corridor, with projects along the route being funded locally. For instance, India is investing in upgrading its port infrastructure. Saudi Arabia has pledged $20 billion worth of investments for IMEC by upgrading its domestic rail and port infrastructure[4]. The UAE will build a rail link to the Saudi border, which will connect to the Saudi rail network. The IMEC corridor is particularly important for Saudi Arabia which is hemmed in by the Houthis in the Red Sea and Iran in the Persian Gulf, through which its primary export, oil, runs. Under its youthful leader Mohammed bin Salman Al Saud, Saudi Arabia has been reforming socially, infrastructurally, and strategically. Economically, tt needs access not only to the Arabian Sea for passage of its oil, to Asia, but also to the Mediterranean สล็อต เว็บตรง