ABU DHABI 30 September 2021: Etihad Rail’s construction works for Package A of Stage Two, which extends over 139 km, and its connection through Al Ghuwaifat on the border of Saudi Arabia with Stage One, which extends for 264 km from Habshan to Al Ruwais, has been completed. This significant step brings the company closer to completing the UAE National Railway Network on schedule.
Chaired by H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court and Chairman of Etihad Rail, the company’s Board of Directors held a virtual meeting to review the latest progress of the construction works for the packages of Stage Two of the UAE National Railway Network, as well as other major achievements made in the third quarter of 2021.
At the board meeting, Sheikh Theyab commented that Etihad Rail will connect vital areas in the seven emirates via a track extending over 1,200 km to enhance the UAE’s social and economic development, as well as its global positioning in line with the UAE Centennial 2071.
Throughout 2021, Etihad Rail was successful in reserving 40 per cent of the network’s annual transport capacity, which by the completion of Stage Two will amount to 60 million tons of goods per year. This was achieved through the commercial agreements Etihad Rail has signed including those with Stevin Rock, one of the biggest quarrying companies in the world, Western Bainoona Group, and Al Ghurair Iron & Steel (AGIS).
The company will continue to establish further commercial partnerships and strategic agreements so that various companies benefit from the unparalleled services, economic and logistical advantages of the UAE National Railway Network.
During the meeting, the Board reviewed the company’s financial performance for the third quarter of 2021, and approved the capital budget for 2021. The charter of the Audit Committee was also approved, which includes a number of policies and procedures related to governance, such as transparency, integrity, and institutional work. In addition, the agenda of the General Assembly of Etihad Rail DB, the operating partner for Stage One was reviewed.
