XRAIL secures funding from HSBC UK for expansion into Saudi Arabia
Posted: 11 February 2020 | Global Railway Review | No comments yet
The funding contract will help XRAIL to deliver its maintenance requirements for its Saudi Arabia’s Haramain High Speed Railway contract.


UK-based railway engineering company, XRAIL Group, has secured a major funding package from HSBC UK to help expand its business further into Saudi Arabia.
Following the awarding of a long-term contract from Saudi Arabia’s Haramain High Speed Railway – which will require XRAIL to provide maintenance for the entire 453km-long railway – HSBC has provided XRAIL with funding to enable the engineering company to mobilise in Saudi Arabia by purchasing the necessary equipment, vehicles, office equipment and tools.
Managing Director of the XRAIL Group, Munir Patel, said: “This new contract is a turning point for XRAIL. It is helping us expand significantly and enabling us to bring our British engineering to a new market. These significant contracts often require up front financial investment and, for businesses looking to secure these opportunities, funding is essential. HSBC UK’s backing has enabled us to invest in our people and equipment so that we can pursue this new opportunity while also maintaining a strong domestic business.”


Credit: HSBC – Munir Patel, Managing Director at XRAIL Group; Stuart Chatburn, Client Director of Global Trade & Receivables Finance at HSBC UK; Zubayr Atcha, Corporate Relationship Director, HSBC
By gaining the funding, XRAIL has also been able to support the relocation costs for senior managers and engineers to move from the UK to the new offices in Jeddah. Subsequently, the UK has benefited from the creation of new jobs, which will support domestic growth. XRAIL also intends to hire an additional 70 individuals locally in Saudi Arabia to work on the contract.
Zubayr Atcha, Corporate Relationship Director at HSBC UK, Greater Manchester, said: “XRAIL is a fantastic example of the quality engineering that British railways are known for and we are pleased to support the ambitious business as it pursues international opportunities that will enable it to expand globally and domestically as well.”
NEW REPORT FROM GLOBAL RAILWAY REVIEW: Track Insight – Track Maintenance | Transforming Track Maintenance Through Technology
Our latest expert-led Track Insight explores how industry leaders are revolutionising the future of track maintenance through cutting-edge innovation and real-world strategies.
From automation and robotics now streamlining inspections and repairs, to predictive maintenance powered by IoT sensors and advanced analytics, the rail sector is entering a new era of precision and efficiency. Companies like Goldschmidt, Bentley Systems, and MxV Rail are leading the charge, redefining how infrastructure is managed with AI, machine learning, and digital twins to reduce downtime and extend asset life.
In this new data-rich landscape, organisations such as Amtrak and the Rail Accident Investigation Branch are demonstrating how to turn vast streams of information—from track geometry to environmental monitoring into actionable intelligence for safer, smarter networks.
Download this insightful, practical guide for FREE and see how your operations can evolve – READ FOR FREE NOW!