Etihad Rail, FAB deal to expand UAE railway system

  Etihad Rail and First Abu Dhabi Bank (FAB) have signed a Dh1.99 billion ($540 million) loan agreement to finance the expansion of the UAE railway system. The railway passenger services, which will run from Al Sila to Fujairah, would improve travel in the UAE by connecting 11 cities and sites across the country. Trains will run up to a speed of 200km per hour and can accommodate 400 people per train. This is expected to boost passenger numbers to more than 36.5 million per year by 2030. Travel-time between Abu Dhabi and Dubai will be cut down to 50 minutes, while travel between Abu Dhabi and Fujairah will only take 100 minutes. Dubai and Fujairah commute will take 50 minutes, and travel between Abu Dhabi and Al Ruwais will take 70 minutes. Shadi Malak, CEO of Etihad Rail, told Arabian Business that “through this agreement, we will move full steam ahead with our mission to provide passenger railway services, which will bolster public transport system in the UAE and the wider region.” Hana Al Rostamani, CEO at First Abu Dhabi Bank, called the UAE National Railways Programme an “important project which will drive forward economic development for our nation”. BKM/Expat Media
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