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FINANCIAL NEWS
Etihad Rail signs contract with PCM Strescon for UAE railway
04 Jul 2011
(MENAFN) The UAE’s Etihad Rail contracted Saudi Arabia’s PCM Strescon Overseas Ventures Limited to produce railway sleepers and build a facility for the first phase of the nearly USD11 billion railway project that would link all of the UAE’s major towns, Gulf News reported.
The contract with PCM Strescon is for phase one of the railway project, a 266km route connecting Shah, Habshan, and Ruwais in Western Abu Dhabi. The route would help transport granulated sulphur to the port of Ruwais for export.
When completed, the railway network would be 1,200km long. By 2030, the railway is expected to transport 16 million passengers a year and 50 million tons of cargo yearly, Richard Bowker, Etihad Rail CEO, said.
PCM Strescon supplied over 2.6 million sleepers for Saudi Arabian Railways’ North South Railway Project. The company’s two factories in Saudi Arabia have the highest production capacities in the world.
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