ROMA (ITALPRESS) – Arsenal announces a strategic agreement with SIMEST (Group Cassa Depositi e Prestiti) for “Dream of the Desert”, the first ultra-luxury towing cruise in Saudi Arabia, which marks the Group’s entry into the Middle East market. The transaction includes a joint equity investment of 37 million euros by Arsenale and SIMEST and a financing of 35 million euros provided by the Saudi Tourism Development Fund.
The project, born after the agreement signed by Arsenale with Saudi Arabia Railways (SAR) for the use of the national railway network, previews the participation of SIMEST for 15 million euros through the Infrastructure Section of Fund 394/81, the plafond – managed in agreement with the Ministry of Foreign Affairs and International Cooperation – dedicated to Italian enterprises active in the great foreign orders that value the national supply chain.
The agreement is part of the growing economic collaboration between Italy and Saudi Arabia, strengthened by the opening of the new SIMEST headquarters in Riyadh and the Memorandum of Understanding signed between CDP, SIMEST and the Chamber of Commerce Italo-Araba (JIACC). “Dream of the Desert” is one of the first projects aimed at enhancing this partnership, introducing a public-private distinctive model in the rail sector.
Entirely designed, manufactured and set up in Italy, the train has been developed through the industrial hubs of Arsenale, CPL in Brindisi and Standgreen in Bergamo, with Italian Railways (CFI) as general contractor of the Arsenale Group, responsible for coordinating a network of high-specialized Italian SMEs in the areas of design, advanced mechanics, engineering, luxury and hospitality.
“Dream of the Desert is a symbol for our Group and for the international railway industry. Values Italian SMEs and is a pioneer of public-private partnerships in the luxury rail sector. The agreement signed with SIMEST and the Saudi institutions confirms that collaboration between companies and institutions can create lasting value and promote Italian excellence in the world,” says Paolo Barletta, CEO of Arsenale.
“The agreement signed with a leading industrial actor as Arsenal for the realization of a strategic project for Made in Italy, confirms the strengthening of the role of SIMEST in support of the Italian production fabric and its subsidiaries – said Regina Corradini D’Arienzo, CEO of SIMEST -. Through the first operation carried out within the framework of the Plafond of Equity of the Public Fund of Infrastructure Investments, SIMEST intervenes directly as a partner to increase the competitiveness of our enterprises engaged in high-value infrastructure projects, while at the same time promoting the expansion of Made in Italy in strategic markets with high growth potential, such as the Saudi one. The instrument, developed by SIMEST under the direction of the Ministry of Foreign Affairs and International Cooperation and in collaboration with Cassa Depositi e Prestiti, fits fully into the action of the Italian System, which, under the direction of the Farnesina, sees the involvement of CDP, SIMEST, ICE and SACE. An integrated approach to guarantee Italian companies a structured and complementary support – from institutional and financial action – to effectively address the main challenges of international competitiveness.”.
The first ultra-luxury train will offer 1-2 night trips departing from Riyadh to some of the most iconic destinations in the Kingdom, including AlUla, UNESCO site, and Hail, to the border with Jordan. The interiors are designed by the architect and interior designer Aline Asmar d’Amman, founder of the study Culture in Architecture. The first carriage was delivered in September 2025 and the operating start is scheduled for the end of 2026 – with pre-reservations opened from November 2025.
-Photos press office Simest-
(ITALPRESS).
