Plans for the development of a railway network connecting the UAE and Oman have moved a step closer.
The Oman-Etihad Rail Company has signed a cooperation agreement with Mubadala Investment Company to support the development of the 303 km network, with an investment value of $3 billion (over AED 11 billion).
The project, which was announced in September 2022, will primarily connect Oman’s Sohar Port with the UAE National Rail Network.
Passenger trains will run up to 200 km per hour, slashing travel time between Sohar and Abu Dhabi to 100 minutes, and between Sohar and Al Ain to 47 minutes. Freight trains will run up to 120 kph.
The latest agreement involves the formation of working groups and joint committees to share expertise and knowledge, developing economic and financial feasibility studies, in addition to joint investments in the development of the network.
The pact was signed by Ahmed Al Musawa Al Hashemi, CEO of the Oman and Etihad Rail Company, and Dr. Bakheet Saeed Al Katheeri, Executive Director of the UAE Industries Unit at Mubadala’s UAE Investments platform.
Suhail Al Mazrouei, UAE Minister of Energy and Infrastructure and Chairman of Oman and Etihad Rail Company, said: "The joint venture will transform the infrastructure, transport, and logistics sectors, and enhance commercial movement and social cohesion, by linking economic, industrial, commercial, and residential centers through the railway network."
He added that the agreement will contribute to enhancing the national economy of the UAE and Oman by improving supply chain efficiency, opening new cross-border trade opportunities, and providing safe and sustainable means of transportation for passengers and goods.
The Oman and Etihad Rail Company is a joint venture established by Oman Rail, the Sultanate’s national developer and operator of railway networks, and Etihad Rail, the developer and operator of the UAE’s National Rail Network.
.@Etihad_Rail and @Oman_Rail joint venture, the Oman-Etihad Rail Company, has partnered with @Mubadala to develop the 303km UAE-Oman rail network route, worth more than AED11 billion, connecting Oman’s Sohar Port with the UAE National Rail Network. pic.twitter.com/47EbnVU3tK
— مكتب أبوظبي الإعلامي (@ADMediaOffice) February 21, 2023
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