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Oman Rail and Etihad Rail JV board holds inaugural meeting

2 Oct 2022

Dubai, UAE – The board of directors of Oman Rail-Etihad Rail JV Company – a joint venture between Oman Rail, the developer and operator of Oman national rail network, and Etihad Rail, the developer and operator of the UAE national rail network – held its inaugural meeting in Dubai, two days after signing an agreement to form the company.

The signing ceremony was held on the sidelines of the UAE President, His Highness Sheikh Mohammed bin Zayed al Nahyan’s visit to Oman.

The board of directors of the JV company includes H E Suhail bin Mohammed Faraj Faris al Mazrouei, UAE’s Minister of Energy and Infrastructure; H E Eng Saeed bin Hamoud al Maawali, Oman’s Minister of Transport, Communications, and Information Technology; Sheikh Nasser Sulaiman al Harthy, acting vice president of operations affairs at Oman Investment Authority and chairman of the board of Asyad Group; H E Saeed al Zaabi, chairman of the board of Etihad Rail Mobility; Eng Abdulrahman Salim al Hatmi, group CEO of Asyad Group; and Eng Shadi Malak, CEO of Etihad Rail.

The board members commended the wise leadership of the two countries for their unwavering support and strategic vision towards enhancing cooperation and joint action between the two countries across various fields. They also praised the leadership’s guidance and direction in the establishment of the joint venture to build and operate a railway network connecting Sohar Port with the UAE National Rail Network, as it is an extension of the longstanding collaboration of Oman and the UAE.

During the meeting, the board of directors discussed the 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.

Emphasis was placed on the importance of fast tracking the execution of the project. The board also committed to adopting the highest global standards for security, safety, and sustainability throughout the development of the network, which will extend for 303km, to provide safe and fast passenger transport and freight services.

The network will contribute to the growth of two countries’ national economies and improve the efficiency of supply chains whilst facilitating cross-border trade by linking commercial ports to the railway network.

The board of directors also appointed Eng Ahmed al Hashemi as CEO of the joint venture company, and Eng Mohammed bin Zahran al Mahruqi as deputy CEO.

H E Mazrouei 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,” he said.

H E Maawali said, “The strategic initiative to develop a railway network between Oman and 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, 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 added.

The US$3bn railway network will contribute to the growth of the two countries’ national economies and improve the efficiency of supply chains whilst facilitating cross-border trade by linking commercial ports to the railway network.

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