Etihad Rail, Oman Rail and Mubadala Funding Firm have entered into an settlement to start the development of the Omani-Emirati railway community challenge.
The settlement was signed in the course of the state go to of Sultan Haitham bin Tarik, Sultan of Oman, to the UAE.
Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court docket for Growth and Fallen Heroes’ Affairs, and Chairman of Etihad Rail, have been current in the course of the signing of the shareholder settlement.
The joint railway community, which might require a complete funding of US$3 billion, will amplify the UAE and Oman as gateways to regional markets. The community may also pave the best way for job creation in varied sectors in each nations.
Previously Oman-Etihad Rail Firm, the three way partnership will now be often known as Hafeet Rail. The identify pays homage to Jebel Hafeet that stretches between the Sultanate of Oman and the UAE.
Jebel Hafeet holds strategic significance and historic significance for each nations, serving as a hyperlink between the 2 neighbours via its rugged terrain, which incorporates mountains, deserts, and distinctive limestone formations.
The community will facilitate cross-border commerce, connecting industrial ports to railways throughout the two nations. A single freight practice journey will be capable to transport greater than 15,000 tonnes of cargo – or round 270 customary containers.
Hafeet Rail will contribute to the event of assorted sectors in each nations, corresponding to mining, iron and metal, agriculture and meals, retail, e-commerce, and the petrochemical sector.
The passenger rail providers will join inhabitants centres, fostering social and familial cohesion, whereas supporting the tourism sector. The passenger practice can attain speeds of as much as 200 kilometres per hour, masking the space between Sohar and Abu Dhabi in 100 minutes, and Sohar and Al Ain in 47 minutes. One practice can accommodate as much as 400 passengers.
