Etihad Rail has announced it has secured financing of US$1.28 billion for Stage One in all its railway project, which comprises the route from Shah and Habshan to Ruwais. Commenting at the completion of financing for the primary stage of the project, H.E. Nasser Alsowaidi, chairman of Etihad Rail said: “The securing of this loan not just represents the start of a brand new era for the UAE in trade and travel through a transportation network with the intention to connect all seven emirates with our GCC partners, but additionally reflects the international financial community’s confidence in Etihad Rail and the numerous potential of the UAE’s national railway.” The five-year loan could be financed on a club deal basis by National Bank of Abu Dhabi PJSC, Bank of Tokyo-Mitsubishi UFJ,...
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