Etihad Trains Co starts rolling as deal signed

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Source:  www.khaleejtimes.com

The UAE Federal government, represented by Shaikh Hamdan bin Mubarak, Public Works Minister and Chairman of the Board of the National Transport Authority; and the Government of Abu Dhabi, represented by Nasser Al Suwaidi, Chairman of the Department of Economic Development — Abu Dhabi and member of Abu Dhabi’s Executive Council, signed the contract for establishing the Etihad Trains Company.

Etihad About 70 per cent of the Dh1 billion capital of Etihad Trains Company will be paid by the Government of Abu Dhabi while the Federal Government will pay 30 per cent. The company will engage in transporting goods and passengers and invest in a countrywide rail network, that would link all the seven emirates.

The Etihad Trains Company was set up by Cabinet Decree No. 2 of 2010.

Shaikh Hamdan said establishing the company and its future business is part of the Federal Government’s efforts under the leadership of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan and the “UAE Vision 2021”, a strategic plan launched by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to achieve a highly competitive national economy.

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