Etihad Rail, Oman Rail to build $3bln Oman-Etihad Rail Company

Etihad Rail, Oman Rail to build $3bln Oman-Etihad Rail Company

MUSCAT - Etihad Rail, the developer and operator of the UAE National Rail Network, has signed an agreement with Oman Rail, the Sultanate's national developer and operator of railway networks, to jointly establish an equally-owned company, Oman-Etihad Rail Company.

The newly created entity will hold an overall investment power of US$3 billion to design, develop and operate a railway network connecting Sohar Port to the UAE National Rail Network.

The agreement was signed by Shadi Malak, CEO of Etihad Rail, and Abdulrahman Salim Al Hatmi, Group CEO of ASYAD.

Under this 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 standards of the two countries.

Built on the historic and strategic relations between the two countries, this major joint venture is an extension of the longstanding collaboration of Oman Rail and Etihad Rail, who both seek to create new prospects in the infrastructure, transport, and logistics industries by connecting the two countries via rail.

The two parties aim to unlock new opportunities by strengthening commercial exchange and social cohesion, connecting key