UAE and Oman sign agreement to build 303km railway network
Suhail Al Mazrouei witnessed the signing of the agreement.
The Oman and Etihad Rail Company, the developer and operator of the railway network linking the Sultanate of Oman and the UAE, and Mubadala Investment Company Mubadala, signed a cooperation agreement to develop the railway network linking Oman and the UAE, which extends over a distance of 303 km, with a total investment value of $3 billions (Dhs11 billion).
The track of the railway network between the two countries will adopt the highest standards of safety, and the global environment to provide safe and fast services for the transport of passengers and freight, as the passenger train reaches a speed of 200 km per hour and covers the distance between Sohar-Abu Dhabi in 100 minutes and between Sohar and Al Ain in 47 minutes, while the speed of the freight train reaches 120 km per hour.
The partnership comes within the framework of the two sides seeking to discuss investment opportunities and expand horizons of cooperation in the railway sector, in a way that supports the efforts of the “Oman and Etihad Rail” company in accelerating the pace of work to prepare preparatory work and complete the work plan for implementing the railway network project between the Emirates and Oman.
The signing of the agreement was witnessed by Suhail Bin Muhammad Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, Chairman of the Board of Directors of Oman and Etihad Rail, along with a number of members of the Board of Directors of Oman and Etihad Rail.
The agreement was signed by Ahmed Al-Masawi Al-Hashemi, CEO of Oman and Etihad Rail, and Dr. Bakhit Saeed Al-Kathiri, Executive Director of the Strategic Industries Unit in the Investment Sector in the UAE at Mubadala Company.
Open new horizons
Suhail Al Mazrouei said: “The establishment of Oman and Etihad Rail is an extension of the strategic relations and strong historical ties that unite the UAE and the Sultanate of Oman. Infrastructure, transportation and logistical services, in addition to enhancing commercial movement and social cohesion, by linking economic, industrial, commercial and residential areas with a railway network.”
He added: “The signing of the cooperation agreement between Oman, Etihad Rail and Mubadala Company stems from the keenness of the two parties to build strategic partnerships and consolidate cooperation with leading entities that would provide added value to promote investment, economic growth and comprehensive development in the two countries, as the agreement will contribute to supporting the objectives of Enhancing and developing the national economy in the UAE and the Sultanate of Oman, by raising the efficiency of the supply chain system, opening new commercial horizons across the borders between the two brotherly countries, and adding safe and sustainable means of transport using railways for goods and passengers.”
