Construction set to begin on UAE-OMAN cross-border railway deal

Construction is set to begin on the $3 billion UAE-Oman rail network, following the signing of a shareholder agreement between Etihad Rail, Oman Rail and Mubadala Investment Company, Khaleej Times reports.

According to the report, the signing ceremony took place during the recent state visit to the UAE of Sultan Haitham Bin Tarik, Sultan of Oman.

The report said the network, which boasts a total investment value of $3 billion, will amplify the UAE and Oman as gateways to regional markets.

In 2022, the United Arab Emirates (UAE) and Oman signed this deal to link each other’s borders through a cross-border rail project, in a major expansion of rail infrastructure in the Gulf.

(Source: MEMO)