Abu Dhabi - Mubasher: Etihad Rail has signed an AED 1.99 billion financing agreement with First Abu Dhabi Bank (FAB) to support railway passenger transport services.
Etihad Rail’s passenger services are one of the three projects of the National Railways Programme, introduced by the UAE government in December 2021, to establish the UAE's largest land transport system, according to a press release on Thursday.
With the railway passenger services, passenger trains will connect 11 cities and locations in the UAE, with a capacity of 400 passengers per train.
The CEO of Etihad Rail, Shadi Malak, said: "Etihad Rail is an essential component of the Gulf Cooperation Council (GCC) rail network, and this agreement brings us one step closer towards realising our strategic goals of strengthening the UAE’s reputation as a regional and global transport hub."
Meanwhile, the Group CEO at FAB, Hana Al Rostamani, commented: "By connecting the United Arab Emirates through a fully integrated rail network, Etihad Rail will bring significant economic and social benefits to the businesses and communities it serves, empowering future growth and providing opportunities for all."
