Categories: Business

UAE In-Focus — Oman, UAE establish joint rail company; ADQ identifies $8.7bn investment in Oman


Wed, 2022-09-28 16:38

RIYADH: Oman Rail has signed an agreement with Etihad Rail, UAE’s national developer and operator of railway networks, to jointly establish an equally-owned company named Oman-Etihad Rail Co. 

The agreement was signed on the sidelines of UAE President Sheikh Mohamed bin Zayed Al-Nahyan’s visit to Oman. 

According to a report from news agency WAM, $3 billion will be invested in the new entity to design, develop and operate a railway network connecting Sohar Port to the UAE National Rail Network.

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