Saudi Press

Saudi Arabia and the world
Wednesday, Dec 06, 2023

Rail network linking UAE and Oman receives $3bn investment boost

Rail network linking UAE and Oman receives $3bn investment boost

A plan to build a new rail network linking the UAE and Oman is a step closer thanks to a new $3 billion agreement.
Oman and Etihad Rail Co. and Abu Dhabi’s funding firm Mubadala have signed a deal to back the development of a 303 km railway network connecting the two countries.

The agreement will see the journey between Oman’s capital Sohar and the UAE city of Al Ain take just 47 minutes.

The new deal falls in line with the goals and objectives of both parties to further bolster ties and explore more investment opportunities in order to accelerate all procedures relating to the UAE-Oman Rail Network including planning as well as execution.

“The signing of the cooperation agreement between Oman and Etihad Rail company and Mubadala reflects the commitment of both parties to building strategic partnerships and strengthening cooperation with leading entities to promote investment, economic growth, and comprehensive development in both countries,” the Minister of Energy and Infrastructure and Chairman of Oman and Etihad Rail Co. Suhail bin Mohammed Faraj Faris Al Mazrouei said, according to a statement.

The new partnership entails the creation of working groups as well as joint committees in an attempt to profit from the shared know-how expertise, and knowledge.

In addition to this, both parties will work to develop economic and financial feasibility studies.

Under the collaboration, the two companies will also ensure investments in the growth and expansion of the UAE-Oman railway network as well as cooperation to enhance and further elevate the project’s added value.

“The agreement will contribute to enhancing and developing the national economy in the UAE and the Sultanate by improving supply chain efficiency, opening new cross-border trade opportunities, and providing safe and sustainable means of transportation via rail for passengers and goods,” Al Mazrouei added.

“The strategic partnership with Oman and Etihad Rail Co. is aimed at driving economic development and collaboration amongst both countries as well as create value for all stakeholders,” the Executive Director of the UAE Industries Unit at Mubadala’s Investments platform Bakheet Al Katheeri explained.
Newsletter

Related Articles

Saudi Press
Close
0:00
0:00
Henry Kissinger, the influential American diplomat, Nobel Peace Prize laureate, and former Secretary of State, passed away at 100 at his Connecticut home.
Here is a video showing the moment of the release of the captives by the terrorist organization Hamas and their transfer to the Red Cross on their way back to the State of Israel.
Here is a video showing the moment of the release of the captives by the terrorist organization Hamas and their transfer to the Red Cross on their way back to the State of Israel.
Bill Gates Envisions a Possible 3-Day Work Week with AI
Abu Dhabi-Backed Fund Poised to Assume Control of UK's Telegraph Media Group
Biden Advocates for Palestinian Authority to Govern Gaza and West Bank
Apple and Disney Halt Ads on X Following Elon Musk's Antisemitic Post, US Reacts
The UK’s Supreme Court, in a move that surprised no one who respects international law and human rights, has just delivered a landmark ruling against Prime Minister Rishi Sunak’s immigration strategy.
Top German journalist received €600,000 from Putin ally, leak reveals
A Dramatic Video from Gaza, Provided by IDF Spokesperson Daniel Hagari, Offers Undeniable Evidence of Hamas Establishing Terror Operation Bases Near Schools, Above Hospitals, and Inside Civilian Areas.
Moody's Downgrades U.S. Credit Outlook to Negative Amid Fiscal Concerns
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Swedish Embassy in Baghdad Engulfed in Flames Amidst a Firestorm of Protests
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Today, we're unveiling the splendor of one of Saudi Arabia's most exclusive and stunning retreats – the Jeddah Yacht Club
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
×