Deal signed to fund stage two of Etihad Rail

The UAE Ministry of Finance and the Abu Dhabi Department of Finance have signed an agreement for the financing of stage two of the Etihad Rail national rail network from Ghuwaifat on the border with Saudi Arabia to the Fujairah coast, a distance of 605 kilometres.

The volume of freight transported will increase from seven million tonnes per year in stage one to more than 50 million tons with the addition of new routes, Etihad Rail said in a statement yesterday. (Staff Report)