Oman and Etihad Rail Company, the developer and operator of the railway network linking the Sultanate of Oman and the UAE, and Mubadala Investment Company (Mubadala) signed a cooperation agreement to develop the railway network linking Oman and the UAE, which extends over a distance of 303 km, with a total investment value of $3 billion (11 billion dirhams).
The railway network track between the two countries will adopt the highest standards of safety, protection and the global environment to provide safe and fast services for passengers and freight transport. The passenger train can reach a speed of 200 km per hour and covers the distance between Sohar and Abu Dhabi in 100 minutes and between Sohar and Al Ain in 47 minutes, while the freight train’s speed can reach 120 km per hour.
The partnership comes within the framework of the two sides seeking to discuss investment opportunities and expand the horizons of cooperation in the railway sector. This is in a way that supports the efforts of the “Oman and Etihad Rail” company in accelerating the work pace to prepare preparatory work and complete the work plan for implementing the railway network project between the Emirates and Oman.
The cooperation agreement includes the formation of working groups and a joint committee to benefit from common capabilities and knowledge and collaborative work to develop an economic and financial feasibility study, in addition to mutual investment in developing the railway project between the Emirates and Oman and cooperation to enhance the benefit of the project.
Suhail Mohammed Faraj Al Mazroui, Minister of Energy, and Infrastructure, Chairman of the Board of Directors of Oman and Etihad Rail witnessed the agreement signing, along with several members of the Board of Directors of Oman and Etihad Rail.
Ahmed Al Musawa Al Hashemi, CEO of Oman and Etihad Rail, and Dr Bakheet Saeed Al Katheeri, Executive Director of the Strategic Industries Unit in the Investment Sector in the UAE at Mubadala Company signed the agreement.