Eti­had Rail Stage 2 fund­ing se­cured

Construction Week - - CONTENTS -

The UAE’s Min­istry of Fi­nance and Abu Dhabi Depart­ment of Fi­nance have signed an agree­ment for the fi­nanc­ing of Stage 2 of the Eti­had Rail na­tional rail net­work. The project has posted sig­nif­i­cant con­struc­tion-re­lated progress in 2018, most no­table of which is the com­ple­tion of pre­lim­i­nary de­signs for Stage 2 of the project in prepa­ra­tion for the launch of civil engi­neer­ing ten­ders.

Ac­cord­ing to a state­ment re­leased last week, Eti­had Rail is “in ad­vanced stages of com­mer­cial and tech­ni­cal ne­go­ti­a­tions with an ex­tended range of po­ten­tial part­ners”.

Stage 2 will ex­tend 605km from Ghuweifat on the bor­der with Saudi Ara­bia to Fu­jairah on the east coast, to be fol­lowed by fu­ture route ad­di­tions. The vol­ume of goods trans­ported by Eti­had Rail will in­crease from 6.35 mil­lion tonnes per year dur­ing Stage 1 to more than 45.3 mil­lion tonnes.

HH Sheikh Theyab bin Mo­hamed bin Zayed Al Nahyan said: “At Eti­had Rail, we [have] 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 [...] by tran­si­tion­ing to a knowl­edge-based econ­omy, pro­mot­ing in­no­va­tion and re­search and de­vel­op­ment, strength­en­ing the reg­u­la­tory frame­work for key sec­tors, and en­cour­ag­ing value-adding sec­tors.”

[im­age: Eti­had Rail].

Fund­ing has been se­cured for Stage 2 of Eti­had Rail, which has recorded no­table progress in 2018

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