The UAE Ministry of Finance and the Abu Dhabi Department of Finance have signed a joint agreement clearing the financing of Stage Two of the Etihad Rail national rail network.
Stage Two will extend 605km from Ghuweifat on the border with Saudi Arabia to Fujairah on the east coast.
Future routes are also to be added in the near future.
H.H Sheikh Theyab said the project, “...achieves many benefits and advantages locally and internationally, connecting the emirates and linking industrial areas, boosting economic diversity and supporting economic and social development in the country.
He added: “At Etihad Rail, we are working with a strategy to meet our mission and objectives.
“This project is part of our commitment to the UAE to help it achieve a leading position in transportation quality, in line with UAE Vision 2021, which aims to transform the emirate’s economy into a competitive knowledge economy by transitioning to a knowledge-based economy, promoting innovation and research and development, strengthening the regulatory framework for key sectors, and encouraging high value-adding sectors.
“These will improve the country’s business environment and increase its attractiveness to foreign investment.
“This is why the national railway network serves as a catalyst for economic growth by connecting key commercial and industrial centres and providing a safe and reliable means of transportation for future generations.”
The volume of goods transported via rail is estimated to increase from 7 million tonnes per year on Stage One to more than 50 million tonnes by Stage Two.
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