Etihad Rail and Oman Rail establish a joint venture to build and operate a railway network linking Sohar Port to the UAE National Rail Network
The joint network bolsters the strategic and historic relationship between United Arab Emirates and the Sultanate of Oman.
Etihad Rail, the developer and operator of the UAE national railway network, signed an agreement to establish the Oman and Etihad Rail Company, a joint venture co-owned by the two countries, with a total value of 3 billion USD. The joint venture will be responsible for designing, building, and operating the railway network that connects the Sohar Port with the UAE National Rail Network.
Under the terms of the agreement, the new company will lay the groundwork and workplan for the project, including its financial mechanisms and schedule. The company will also handle the design, development, and operation of the rail network, which connects Sohar and Abu Dhabi, in line with the criteria and standards of the two countries.
His Excellency Shadi Malak
CEO of Etihad Rail
Group CEO of ASYAD Group
Al-Hatmi said that the project will be a high-quality addition to the logistics sector, and will stimulate various industrial sectors and economic activities by providing promising commercial and investment opportunities for the private sector, and supporting integration among port activities in the two countries.
The two parties will ensure that the project is designed according to the best international specifications, reducing cost and time, improving the efficiency of travel between the two countries, and setting the train speed.