LANDMARK AGREEMENT BETWEEN OMAN RAIL AND ETIHAD RAIL
TO BUILD A 3-BILLION-DOLLAR RAILWAY CONNECTING SOHAR PORT TO THE UAE NATIONAL RAIL NETWORK.
The joint network cements the strategic and historic relationship between Oman and the UAE
Built on the historic and strategic relations between the two countries, this major joint venture is an extension of the longstanding collaboration of Oman Rail and Etihad Rail, who both seek to create new prospects in the infrastructure, transport, and logistics industries by connecting the two countries via rail. The two parties aim to unlock new opportunities by strengthening commercial exchange and social cohesion, connecting key urban centers, facilitating travel between communities and providing seamless transport solutions between economic and industrial zones in Oman and the UAE.
Oman Rail, part of Asyad Group, was represented in the signing ceremony by Eng. Abdulrahman Salim Al Hatmi, Group CEO of Asyad, and his counterpart Eng. Shadi Malak, CEO of Etihad Rail.
Economic Benefits and Opportunities
Employing cutting-edge transport and rail technology, the railway network between the Sultanate of Oman and the United Arab Emirates will boost the growth of the national economy in both countries. It will also improve the efficiency of supply chain, facilitate cross-border trade by linking commercial ports to the railway network, boost market competitiveness and reduce the total cost of supply chains.
With multiple stakeholders set to reap the benefits of this mega project, the railway will provide a host of investment opportunities and support contracts to the private sector. The new transport system will create job opportunities across sectors, develop the national human capital of both countries and kick off a new age of innovation.
On a wider scope, the project will stimulate tourism activities between Oman and the UAE, strengthen the competitiveness of the two countries in global trade and solidify their positions as logistics hubs for import and export to regional markets.
“Adding a new railway capability to our logistics sector will offer trade and logistics companies outstanding investment opportunities and empower manufacturing and industrial activities to quickly expand beyond borders. The envisioned network will complement our comprehensive set of ports and logistics assets, augment our competitiveness and open faster access to global markets.”
Eng. Abdulrahman Salim Al Hatmi,
Group CEO of Asyad