The Minister of Energy and Infrastructure, Suhail bin Muhammad Faraj Faris Al Mazrouei, inspected the developments of the construction works within the second phase of the UAE National Rail Network project, which Etihad Rail is working on developing. At the level of construction work, according to the highest international standards and levels, and in line with the time plan approved by the company.
Al Mazrouei listened to an explanation from national cadres, project managers and engineers about the progress of work on the Etihad Rail project, and its linkage with the Gulf Cooperation Council countries. The most prominent of these is linking the Emirates of Abu Dhabi and Dubai with a direct train line, within the “Etihad Train” network, after the completion of the 256-kilometre train line, in preparation for linking the rest of the emirates of the country, within the framework of the “National Railways Program” recently launched by the state, under the umbrella of the fifty projects. The program, with an investment value of 50 billion dirhams, is considered the largest system of its kind for land transport at the level of all emirates of the country.
He also listened to an explanation of the passenger railway services project, the railway legislation and its commercial developments, and the contracts and partnerships recently concluded by the company, including the signing of an agreement between Etihad Rail and First Abu Dhabi Bank, to finance the railway services project to transport passengers with a value of 1.990 billion dirhams. Under which, First Abu Dhabi Bank will assume the functions of the approved lead arranger for the loan.
For his part, the CEO of Etihad Rail, Shadi Malak, stressed the importance of the qualitative achievements made by the company in the development of the Etihad Rail project, which embodied the effectiveness of the efforts made by the company to complete the development work of the project according to the approved plans, and in line with its objectives aimed at developing transportation solutions. An economic network through a safe and sustainable rail network to connect the Emirates, and provide distinguished services to industries and society, to contribute to supporting the economic growth of the country, and consolidating the leading position it has achieved at the international level.
• Financing the railway services project to transport passengers with a value of 1.990 billion dirhams.
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