WAM 8 Feb / ABU DHABI: The UAE Federal government, represented by Sheikh 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.
70 percent of the one billion dirham capital of Etihad Trains Company will be paid by the government of Abu Dhabi while the federal government will pay 30 percent. 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.
Sheikh Hamdan Bin Mubarak said establishing the company and its future business is part of the Federal Government’s efforts under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the “UAE Vision 2021”, a strategic plan launched by Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum to achieve a highly competitive national economy.
One of the strategic goals of National Transport Authority, he said, is bolstering railway industry and achieving a safe and sustainable transport system.
For his part, Al Suwaidi said the project will yield significant social and economic benefits through facilitating the transport of passenger and goods and the domestic and regional trade exchange with other GCC countries when planned linkages with their railway systems are achieved.