Tag Archives: USD 3billion

Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, signed a cooperation agreement with Mubadala Investment Company, a sovereign investor in Abu Dhabi, to support the development of the 303km railway network, which connects Oman and the UAE, with an overall investment value of USD 3 billion. The UAE-Oman Rail Network will increase market competitiveness and reduce the overall cost of supply chains, due to its increased efficiency compared to other modes of transport. The Network will also provide trade and investment opportunities for the private sector, providing new and diverse job opportunities, training national human resources, enriching tourism activities, improving the competitiveness of the two countries in global trade and establishing their position as logistics hubs that serve as gateways to regional markets. The network will employ the highest international security, safety, and environmental standards to provide safe and fast passenger and freight services. Passenger trains will run up to 200 km per hour, reducing the time of the journey between Sohar and Abu Dhabi to 100 minutes, and between Sohar and Al Ain to 47 minutes, while the freight train speed will reach 120 km per hour. The partnership comes in line with the two parties’ efforts to explore investment opportunities in the railway sector and strengthen cooperation to support the Oman and Etihad Rail Company in accelerating the planning and execution process of the UAE-Oman Rail Network. The cooperation agreement includes formation of working groups and joint committees to benefit from the shared expertise and knowledge, joint efforts in developing economic and financial feasibility studies, in addition to joint investments in the development of the UAE-Oman railway network and cooperation to enhance …

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