The Board of Directors of Oman Rail-Etihad Rail joint venture company, held its inaugural meeting in Dubai, two days after signing an agreement to form the $3 billion railway company. The passenger trains are designed to reduce travel time from Sohar to Abu Dhabi to 1 hour 40 minutes, and from Sohar to Al Ain to 47 minutes.
During the meeting, the board of directors discussed the implementation plans including technical studies, architectural design, environmental studies for routes, the business model and the commercial affairs of the joint venture.
A strong emphasis was placed on the importance of fast tracking the execution of the project.
In discussion was also the commitment to the highest standards for security, safety and sustainability.
The passenger trains will travel up to 200 kilometres per hour, according to the report, and will connect Abu Dhabi with Sohar to the north of Muscat.
The network will be a contributing factor to the growth of national economies of Oman and the UAE, it will also improve the efficiency of supply chains whilst facilitating cross-border trade by linking commercial ports to the railway network.
“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 centres, and cement the longstanding social cohesion between the two countries,” said Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Infrastructure.
The Board of Directors also appointed Eng. Ahmed Al Hashemi as CEO of the company, and Eng. Mohammed bin Zahran Al Mahruqi as Deputy CEO.
“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,” said Saeed bin Hamoud bin Saeed Al Maawali, Minister of Transport, Communications and Information Technology in Oman.
Source:https://www.arabianbusiness.com/industries/transport/uae-oman-hold-first-directors-meeting-for-3bn-railway-between-abu-dhabi-muscat