UAE’S Etihad Rail signs agreement with Chinese firm to triple wagon fleet

Etihad Rail is 70 percent owned by the Abu Dhabi government and 30 percent by the UAE federal government.

The UAE’s Etihad Rail, the developer and operator of the country’s rail network, has signed an agreement with China’s CRRC to triple its fleet of wagons to more than 1,000, the Abu Dhabi Media Office said on Twitter.

CRRC is a Chinese state-owned and publicly traded rolling stock manufacturer.

The UAE plans to have a rail network with 1,200 km (750 miles) of track, costing about $11 billion, running from the border with Saudi Arabia to Fujairah on the Gulf of Oman.

“This will increase the transport capacity of the UAE’s rail network by 8 times to 59 million tons of goods annually,” the Abu Dhabi Media Office said of the CRRC deal on Tuesday.

Etihad Rail is 70 percent owned by the Abu Dhabi government and 30 percent by the UAE federal government.

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CRRC Corporation Limited It is the world’s largest rolling stock manufacturer in terms of revenue, eclipsing its major competitors of Alstom and Siemens.

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Last Update: Wednesday, 05 August 2020 KSA 23:44 - GMT 20:44
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