The Board of Directors of the Oman Rail-Etihad Rail JV Company have said that they are prioritising the fast tracking the execution of their $3 billion rail project which they expect will to boost the growth of the two countries’ national economies and cross-border trade.
Meeting in Dubai to discuss implementation plans, including technical studies and architectural design, as well as environmental studies for routes, the business model and the commercial affairs of the joint venture, the partners said the rail network will improve the efficiency of supply chains and trade by linking commercial ports to the railway network.
The meeting was also the first formal meeting between of the newly established JV and saw it commit to “adopting the highest global standards for security, safety, and sustainability throughout the development of the network, which will extend for 303 kilometers, to provide safe and fast passenger transport and freight services.”
His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Infrastructure, said that establishing the joint venture was in line with both leaderships’ directives for achieving sustainable development by elevating the transport and infrastructure sectors to higher levels, whilst supporting economic and commercial growth.
“The joint railway network will advance the land transport system between the two countries in line with the best-in-class criteria and standards, providing safe, reliable, and sustainable transportation, which in turn, will further facilitate connectivity between industrial and commercial centers, and cement the longstanding social cohesion between the two countries.”
His Excellency Eng. Saeed bin Hamoud bin Saeed Al Maawali, Minister of Transport, Communications and Information Technology in the Sultanate of Oman, added: “The strategic initiative to develop a railway network between the Sultanate of Oman and the UAE would cement the strong brotherly ties between the two countries and would also reflect their joint efforts to achieve social and economic integration.
“Through this partnership and the logistics progress it will bring about, various economic and trade activities will reap several benefits, creating new opportunities and providing high-quality transport solutions that will contribute to establishing a connection between Sohar and the Omani free zone, with vital economic and industrial zones in the UAE,” he explained.
